FILE PHOTO: A logo of Alibaba Group is seen at an exhibition during the World Intelligence Congress in Tianjin, China May 16, 2019. REUTERS/Jason Lee
May 27, 2019
(Reuters) – Alibaba Group Holding Ltd is considering raising $20 billion through a second listing in Hong Kong, Bloomberg reported on Monday, citing sources.
The e-commerce company is said to be working with financial advisers on the planned offering and is aiming to file a listing application in Hong Kong confidentially as early as the second half of 2019, according to the Bloomberg report.
Alibaba did not immediately respond to a request for comment.
Alibaba raised $25 billion selling shares on the New York Stock Exchange in 2014, after struggling to persuade Hong Kong regulators to approve its proposed governance structure.
A second listing is intended to diversify Alibaba’s funding channels and boost liquidity, according to the Bloomberg report.
The move comes as Chinese companies face an increasingly hostile U.S. government, which has put several Chinese tech companies on a blacklist.
(Reporting by Saumya Sibi Joseph in Bengaluru; Editing by Matthew Lewis)
