Alibaba Group seeks to raise US$20b in secondary Hong Kong IPO: report

The firm plans to file a listing application in H2 2019.

Alibaba Group is in talks to raise US$20b through a second listing in Hong Kong following its New-York debut in 2014, people with knowledge of the matter said.

This will be a mega-deal that will bring China’s largest company closer to investors in its home country as US tensions escalate.

Also read: Hong Kong's IPO haul may hit up to $230b in 2019

The e-commerce giant is working with financial advisers on the planned Hong Kong listing that could take place as early as the second half of 2019, the people said. A second listing is intended to diversify its funding channels and boost liquidity, one of the people said.

A successful deal will rival AIA Group Ltd.’s 2010 IPO as Hong Kong’s largest-ever share sale, a triumph for a city that’s ceded many of China’s largest corporations to U.S. exchanges.

Read the full report from Bloomberg.