Alibaba, the Chinese Conglomerate firm, is planning to raise as high as $20 billion via a secondary listing in Hong Kong, anonymous sources told the Indian daily news, Reuters.
The deal is considered to be the second biggest deal of the Chinese e-commerce giant after its $25 billion float in 2014. With this deal, the company will garner a huge reserve of monies to invest in the technology sector, which is the utmost priority for China presently, owing to the trade war between the country and US.
In the present time, the e-commerce company is working along with financial advisers on the deal and thus, planning to file an application privately in Hong Kong by the second half of 2019, three anonymous sources told the Indian daily news, Reuters.
The anonymous sources said that many parts of deets are not clear yet. However, one person revealed that the deal may range between $10 billion and $15 billion.
With $20 billion floats, Alibabas business deal will rank on the far side of NTTs 1987 $36.8 billion sales. Further, Alibabas deal will be ranking on the further side of Royal Bank of Scotlands offering$24.4 billion, Lloyds Banking Groups offering$22.5 billion and US Insurer AIGs raised money$20.7 billion, as per the research company, Refinitiv data.