Adding to an already blockbuster, $25 Billion public market debut that Alibaba made in New York in 2014, the company is now reportedly planning a second such bumper public debut on the Hong Kong markets. The report, which comes in via Reuters, pegs this second listing at a massive $20 Billion.
According to the Reuters report, the deal would be the biggest follow-on share sale in seven years globally. For both Alibaba and China, the deal would hold a lot of significance. The massive IPO will give Alibaba some much needed cash, so that it can continue to invest in R&D, special in advanced tech sectors. It will help China spruce up growth, as its decades long manufacturing-powered growth story is beginning to slow. The country is also locked in perhaps one of the most fiercest trade disputes the world has see, with rival United States.
The report further states that the e-commerce giant is working with financial advisers on the offering and is aiming to file an application confidentially in Hong Kong as early as the second half of 2019, three people said on condition of anonymity as the plans are not public yet.
Firoz joins The Tech Portal to report on all stuff that relates to developers and their community. He is actively involved in multiple startups, helping them build and develop modern web products.