In response to the need for a listing in Hong Kong, Alibaba Group has added Citigroup, JPMorgan Chase and Morgan Stanley to its Hong Kong listing sales queue, and has invited several Chinese banks, and this Friday (15th) began accepting investor subscriptions, and next Wednesday, foreign sources quoted the news. (20th) pricing of the issue. The news also suggests that up to $15 billion could be raised.
Foreign media quoted sources as saying that Alibaba’s listing in Hong Kong this time, at least four Chinese state-owned investment banks, respectively, Agricultural Bank International, CCB International, ICBC International, Bank of China International, and has been invited to take on a junior role. Earlier, it was reported that Credit Suisse And CICC led the arrangement for Alibaba’s Hong Kong share offering.
New technologies such as artificial intelligence will be added
Alibaba could raise up to $15 billion this time, but the timing and size of the offering could change depending on market conditions, people familiar with the matter said.
In addition, Alibaba is likely to invest the proceeds of the crowd-funding in new technologies such as artificial intelligence or fast-expanding affiliates such as Ant Gold. If the Hong Kong share offering is successful, it could also help Alibaba’s subsidy war with Group AMERICA in takeaways and travel, and divert investor funds from rivals such as U.S. group and Tencent.
In fact, Alibaba just announced on Friday that it would invest Rmb23.3bn in its logistics-related network, the cainiao Network, and increase its stake from about 51 per cent to about 63 per cent. Alibaba said the investment would be used to subscribe for the newly issued common share of cainiao in the latest round of financing and to buy some stakes from the rookie’s existing shareholders.