IFC International Limited in Hong Kong anxiously awaits the public
1888PressRelease – Alibaba Group IPO: Is Coming to the Hong Kong Stock Exchange.
Alibaba Group has filed confidentially for a Hong Kong listing, people familiar with the matter said, moving closer to what is potentially the city’s biggest share sale since 2010.
It is said to have picked China International Capital Corp. and Credit Suisse as lead banks. The offering from China’s largest corporation could raise as much as 20 Billion.
William Lui from IFC International in Hong Kong said, “ This will be an exciting thing to happen in our city, it should also shield the company from any trade disputes with the USA if they progress too far”.
Alibaba which had roughly $30 billion of cash as of March has ridden a surge in Chinese online commerce alongside an increasingly affluent middle class. But it’s struggling to sustain growth as the world’s No. 2 economy slows.
The monster share sale comes as Chinese companies grapple with rising tensions between Beijing and Washington, and an increasingly hostile U.S.
“A Hong Kong offering may have the benefit of tightening Alibaba’s ties with Beijing, in addition to the money raised,” Said Lui.
E-commerce giant Alibaba has filed confidentially for a Hong Kong listing and could go public in the city as soon as the third quarter of this year, said an insider.
William Lui is the CEO of IFC International and has been in Finance in Hong Kong for many years. “This will be the true test as to their resilience for the future.” Said Lui.
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