Alibaba plans to start accepting IPO bids on Friday, November 20

According to foreign media reports, Alibaba plans to start accepting investor bids on November 15 and set prices on November 20 to raise up to $15 billion (about HK$117 billion), and has added Citi, JPMorgan Chase and Morgan Stanley to the second Hong Kong-listed sales queue, as well as several Chinese banks, Credit Suisse and CICC are co-sponsors. At least four Chinese state-owned investment banks have been invited to various roles, including Agricultural Bank International, CCB International, ICBC International and BANK of China International.

Alibaba plans to start accepting subscriptions on Friday, November 20

Representatives for Alibaba could not immediately be reached for comment, while representatives of Citi, JPMorgan Chase and Morgan Stanley declined to comment, while representatives of Chinese banks did not immediately respond to emails during non-business hours.

In addition, the source said, the proceeds of the fund-raising will be invested in new technologies such as artificial intelligence or fast-expanding affiliates such as Ant Gold, as well as a subsidy war to help Ali in the takeaway and tourism sectors with Meituan group , so that investors’ funds from rivals such as Meituan and Tencent.

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