Chinese e-commerce giant Alibaba is set to price its first share sale in Hong Kong next week, raising up to $13.4 billion in what will be the largest deal in the city since 2010 and the world's biggest ever cross-border secondary listing. WHY IS ALIBABA LISTING IN HONG KONG? Analysts say establishing a base outside the United States gives the US-listed company options, especially in the light of the US-China trade dispute. It is an "escape valve listing", said Travis Lundy, an analyst at Quiddity Advisors who publishes on SmartKarma. "Investors can take delivery or buy and sell shares (in Hong Kong) should US-China relations worsen. This should be considered a non-negligible benefit for any US-listed Chinese company," he added. Alibaba, which is due to start trading on Nov. 26 in Hong Kong, could also benefit from Chinese demand. While it will not be eligible for trading until June in the Stock Connect that links Shanghai and Shenzhen with Hong Kong, analysts and investors expect … [Read more...] about Why is Alibaba listing in Hong Kong?
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Hong Kong: Chinese technology giant Alibaba on Friday confirmed plans to list in Hong Kong in what it called a $13 billion vote of confidence in the turbulent city's markets and a step forward in its plans to go global. The enormous IPO, which Hong Kong had lobbied for, will come as a boost for authorities wrestling with pro-democracy protests that have tarnished the financial hub's image for order and security and hammered its stock market. Alibaba will offer 500 million shares at a maximum of HK$188 apiece, the company said. The number eight is considered auspicious in China. Over-allocation options could take the total value to more than $13 billion, making it one of the biggest IPOs in Hong Kong for a decade after insurance giant AIA raised $20.5 billion in 2010. Alibaba had planned to list in the summer but called it off owing to the city's long-running pro-democracy protests and the China-US trade war. The US and China are now working on sealing a partial trade deal. Daniel … [Read more...] about Alibaba Confirms Huge Hong Kong Public Listing Worth At Least $13 Billion
Video PlayerClose HONG KONG, Nov. 15 (Xinhua) -- Chinese e-commerce giant Alibaba Group Holding Ltd. started listing on the main board of Hong Kong stock exchange on Friday. The e-commerce giant will issue 12.5 million new shares at a price no higher than 188 Hong Kong dollars (about 24 U.S. dollars) per share. Its international offering of 487.5 million shares will be priced on Wednesday. It will become another Hong Kong-listed company that has weighted voting rights structures, following smartphone maker Xiaomi and group buying website Meituan Dianping. Shares of Alibaba are expected to be included in the Stock Connect, a program that allows investors from the Chinese mainland and Hong Kong to invest in the market of the other side. Alibaba CEO Zhang Yong said the encouraging reforms took place in Hong Kong's capital market in recent years, and the company still believes in the bright future of Hong Kong and hopes to participate in its development. The year 2019 marked the 20th … [Read more...] about Alibaba starts listing in China’s Hong Kong
Email By political reporter Matthew Doran Posted November 15, 2019 16:55:23 Video: Australian university students on exchange in Hong Kong are being urged to come home immediately (ABC News) Related Story: Arrows, petrol bombs used against police as protests paralyse Hong Kong Related Story: Hong Kong on 'brink of total breakdown', police warn Related Story: 'A terrible error': Hong Kong's last British governor on China's broken promises Map: Hong Kong Australian university students on exchange in Hong Kong are being urged to come home immediately, as protesters take their pro-democracy fight to campuses across the city.The University of Sydney has started contacting its students in the Chinese-administered city, after Hong Kong University (HKU) and other institutions suspended classes for the last few weeks of the semester."Your safety is our utmost concern and based on all the information available to us, and in light that HKU has now suspended/cancelled the semester, … [Read more...] about Hong Kong protests spark call for Australian university students to come home
Hong Kong pro-democracy protesters defied a warning by China’s President Xi Jinping and again took to the city’s streets on Friday, as the political turmoil seeped out to London where a Minister from the Southern Chinese city was confronted by masked demonstrators.Hong Kong has seen relentless protests since June as many in the city of 7.5 million people have vented fury at eroding freedoms under Chinese rule.Violence has escalated, and tensions have spilt out overseas, sparking friction between China and Britain, which governed Hong Kong until 1997. Also Read Hong Kong violence has challenged "one country, two systems" principle: Chinese President Xi Jinping On Thursday night, Hong Kong Justice Secretary Teresa Cheng fell in London after being surrounded by pro-democracy protesters, in the most physical confrontation involving a member of cabinet since the unrest began.‘Appalling attack’Ms. Cheng walked away without any visible signs of … [Read more...] about Hong Kong protesters defy Xi with pro-democracy rallies