Sun, May 28, 2023

The Chinese E-commerce Giant Plans Secondary Listing

Alibaba and its shares

Alibaba Group is one of the most valuable publicly traded companies in terms of market capitalization according to Financial Times Global 500. Another interesting fact is that the Chinese e-commerce giant joined this list in 2017. It means that the company founded by famous Chinese businessman Jack Ma and his friends is very successful, and this list once more underlines this fact. It is worth mentioning that Alibaba’s initial public offering (IPO) $25 billion was the best result in history. According to the information, Alibaba is planning a secondary listing in Hong Kong. This news will affect stocks.

On Tuesday, Alibaba received permission from Hong Kong regulators to proceed with the share sale. This move doesn’t mean that Alibaba will leave the New York Stock Exchange. Chinese e-commerce will stay listed in New York. It is important to mention that Alibaba’s IPO is still the biggest history.

On Wednesday, Alibaba acknowledged that it filed an application for a proposed secondary listing with the Hong Kong stock exchange. This information became available after the Chinese e-commerce giant notified the U.S. Securities and Exchange Commission. Nevertheless, the position of Alibaba remains unchanged. It means that the New York Stock Exchange is a primary listing venue for the company.

      • Interested in Online Trading with Alibaba Stocks? Read WiBestBroker’s comprehensive review on HQBroker.

Based on the information, a secondary listing most likely will take place in the last week of November. The company will raise approximately $13 billion. The company plans to issue 500 million new ordinary shares plus 75 million “greenshoe” options.

Asian stock markets

Asian stocks on November 13

On November 13, Hong Kong stocks declined due to the problems connected with ongoing protests in the city.

Hong Kong’s Hang Seng index declined by 1.82% and is close to 26,571.46.

Mainland Chinese stocks are mixed as investors are trying to learn more about the trade deal. The Shanghai Composite fell by 0.33% to around 2,905.24. Meanwhile, the Shenzhen component increased by 0.18% to 9,687.85.

The Shenzhen composite barely changed and was mostly flat at around 1,614.30.



The American company Netflix recently launched an option for its users, including


Oil prices rose to $77 on international markets on Friday, boosted by

The Saudi budget is again in deficit

Saudi Arabia registered a budget deficit in the Q1 of the year


Leave a Comment

Your email address will not be published. Required fields are marked *

User Review
  • Support
  • Platform
  • Spreads
  • Trading Instument