Alibaba revives IPO plan, likely to list after 11.11 say sources
Alibaba is resuming plans to list on the Hong Kong exchange in a move expected to raise US$10–15 billion.
Earlier listing plans scheduled for August were put on hold during the recent political unrest in the territory. The firm may now seek a listing as early as this month, with official filings seeking approval for the listing set to occur following its 11-11 shopping event.
Alibaba held the largest IPO in history in 2014 on the New York exchange, raising $25 billion. It currently has a market capitalisation of about $460 billion.
Positive development in its e-commerce and cloud businesses saw the firm return better-than-expected profits in the last financial quarter.