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Alibaba goes to Hong Kong


Chinese e-commerce giant Alibaba is mulling pulling together $20 billion through a second listing in Hong Kong.

The Chinese e-commerce giant is said to be mulling a second listing in Hong Kong

Stocks impacted: Alibaba Group (BABA)

At this stage, the company is working with financial advisers for the potential offering and is aiming to file an application confidentially in Hong Kong as early as the second half of 2019. At $20 billion, Alibaba's deal would be the sixth-biggest follow-on share sale ever. As a reminder, the company broke a record with its New York Stock Exchange listing in 2014, when it raised $25 billion. And since its US listing, Alibaba has nearly doubled in size to become the largest-listed Chinese company with a market value of more than $400 billion.

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