Chinese e-commerce giant Alibaba has made new progress in its plans to list in Hong Kong. On November 13th, according to media reports, Alibaba has been allowed to issue shares in Hong Kong, starting on November 13th for a week-long roadshow for global investors, and then trading on November 25th.
The report said Alibaba had hired Citi, JPMorgan Chase and Morgan Stanley to join the underwriting group, and invited other European and Chinese banks to join as bookkeepers, while Ali also invited investment banks owned by the big four banks to help list.
It is worth noting that Alibaba’s listing in Hong Kong is a secondary listing, so there is no need to disclose the prospectus on the Hong Kong Stock Exchange, as long as Alibaba through the HONG Kong Stock Exchange listing hearing can choose the day to list.
According to Alibaba’s second-quarter report for the fiscal year ended September 30, 2019, Alibaba achieved revenue of RMB119.02 billion, up 40% YoY, and its net profit reached RMB72.54 billion, of which Ant Gold’s 33% equity income reached RMB69.2 billion. At the end of the reporting period, Alibaba’s China retail market had 785 million active monthly users, with annual active consumer growth of 19 million to 693 million.