According to Bloomberg quoted insiders, Alibaba intends to submit a listing application to the Hong Kong Stock Exchange within a few weeks. The company has chosen CICC (3908) and Credit Suisse to take the lead in arranging the listing.
People familiar with the matter said that Ali’s fund-raising amount could reach US$20 billion (HK$156 billion). If the news is true, it will be the highest-funded new stock in Hong Kong’s history, but the company has yet to determine the final fund-raising target.
Alibaba declined to comment on the report, and CICC representatives and Credit Suisse also declined to comment.
Li Xiaojia, chief executive of the Hong Kong Stock Exchange (0388), once said that Alibaba will return 100%, but it is only a matter of time. Choosing to return to Shanghai or Hong Kong is its own choice.