Report: Alibaba sets eyes on US$15b Hong Kong listing
10 November, 2019, 16:24
Alibaba's share sale, which could be the largest globally this year, will be a triumph for a Hong Kong stock exchange that lost many of China's brightest technology stars to United States rivals.
Alibaba's bookbuilding and listing is due to take place in the week beginning November 25, said the sources, who declined to be identified due to the sensitivity of the matter.
An Alibaba spokesman declined to comment to Reuters on the timing of the listing.
Alibaba - which had roughly US$57 billion of cash and equivalents as of September - rode a national e-commerce boom that stemmed from an increasingly affluent middle class.
If realized, the US$15 billion IPO would be the biggest since insurance giant AIA garnered US$20.5 billion in 2010. Alibaba previously mentioned that the Company is looking to expand into less developed regions as its retail sales continue to slow down.
Alibaba is thought to have submitted their application discretely in June with hopes of listing in August, however the unrest in Hong Kong forced the company to postpone the process.
Mormons leaving after Mexico violence arrive in Arizona Mexican investigators say the victims could have been mistaken for rivals of a drug trafficking cartel called La Linea. Miller was eulogized as an "innocent spirit, lovely heart" and a woman whose laugh "could light up a room".
Whitney Houston's BFF Robyn Crawford opens up on Love Affair Houston implied that they shouldn't indulge in a physical relationship anymore since it will only make their lives more hard . But, Murphy " never showed up that night ", Crawford explained, admitting it was a rejection which left Houston devastated.
Asia's largest company by market value is now preparing for a listing hearing as mandated by companies that debut on the Hong Kong bourse early next week, the people said, requesting not to be named discussing a private matter.
Despite months of ongoing pro-democracy protests, Hong Kong's stock market has chugged along. The demonstrations are in their fifth month and are frequently violent. The death of a student on Friday who fell from a parking lot is expected to spark fresh protests and fuel anger at police.
Alibaba will have an opportunity to show prospective investors its most recent sales figures after Monday's Singles Day, mainland China's largest annual online shopping day.
Credit Suisse and China International Capital Corp. will be the lead underwriters on the deal.
Sources have said the investment banking syndicate will be put in place after Monday.
Alibaba's sales a year ago reached $30 billion on the day, which was more than three times as large as Cyber Monday, the equivalent shopping day in the U.S. The group also beat financial analysts' expectations of its revenue, with a 40% year-on-year increase to RMB119 billion (US$16.7 billion).
Skipper Rashid Khan had an unpleasant experience in the series opener as he failed to gather any wickets to his name. When is Afghanistan vs West Indies 2nd ODI? However, Rashid Khan was not successful to add any wickets to his name.
The whistleblower complaint alleges Trump pressured Zelenskiy , during a July 25 phone call, to investigate Biden and his son. There shouldn't be impeachment hearings", the president said, calling the testimony so far "all third-hand knowledge".
Just last month, a 56-year-old woman in Iowa died after a gender reveal announcement resulted in an explosion. Things went wrong when the plane "aerodynamically stalled", from moving too slow, the release said .
The company invested $70.7 billion in 88 companies as of the end of September and those investments are now worth $77.6 billion. SoftBank will take a $4.7-billion hit from WeWork on its non-operating profit, according to Son's presentation .
WhatsApp Business users can add information to each item in the catalogue, including price, description, and product code. The new feature, Catalogs could be used as a mobile storefront for businesses to easily showcase and share their goods.
Would the Big Ten's second best team be better than the Pac-12 champ? Penn State has suffered its first defeat of the 2019 season. Assuming a win over Auburn at the end of the season, Alabama will have just one victory over a ranked opponent.
Remembrance Sunday events in Windsor and Slough
The Remembrance Sunday ceremony starts at the Woodbridge War Memorial at 10.45am, which is followed by a service in Market Square. The centenary of Remembrance Day will be marked in Bishop's Stortford with the traditional parade and service in Castle Gardens.
Get KSI vs Logan Paul two Repeat
After giving KSI time to recover, Reiss deemed that KSI was hit on the back of the head by Paul while he was down on the floor. The first round went like most thought it would - it wasn't very pretty to watch but both looked for an emphatic knockout.
BYD, Toyota to form joint venture on BEV R&D
The Japanese giant has sold over 14 million electrified cars worldwide since the first Prius debut in 1997. Since 2015 onwards, BYD's sales of BEVs and PHEVs have been ranked first in the world.
Salman Khan sings for 'Dabangg 3', song out now
The song is composed by the music duo of Sajid-Wajid, penned by Danish Sabri and sung by Salman Khan and Payal Dev. The film will also see Mahesh Manjrekar's daughter Saiee Manjrekar making her Bollywood debut opposite Salman.
Jeff Sessions Formally Announces Senate Candidacy
Sessions declined to say if he had a conversation with the White House about the Alabama race and what Trump might say about it. In announcing his candidacy, Sessions noted that he hasn't criticized the president since leaving the administration.