Chinese E-commerce Giant, Alibaba presses ahead with its secondary stock approaching in Hong Kong. Analysts say that the huge amount of $20 billion moves will take the way for more tech, listings closer to home amid escalating U.S.-China tensions.
Hong Kong affiliated company is widely reported to have already filed confidentially for the stock sale. And that is now proposing a one-to-eight stock split of the company’s ordinary shares rise “flexibility in the Industrial capital raising activities. In fact, they stated it in a Statement on Monday. The E-commerce Giant Alibaba has been listed in New York since 2014 when it raised a record-breaking amount of $25 billion in the world. That is the largest-ever initial public offering.
And the demand for the proposed Hong Kong float is still subject to change. The company Alibaba is showing its fellow tech firms that this might be the ideal time to consider going public in China. Beijing has already demonstrated its willingness to relax rules to welcome these companies to return home, especially as trade tensions spill over into the U.S. market and threatens to curb their access to funding.