The Chinese giant is considering raising additional funds by selling its shares on the Hong Kong Stock Exchange, Bloomberg reported yesterday citing several sources.
According to them, Alibaba wants to raise additional funds in order to "diversify funding channels and increase liquidity". It seems the company plans to file its listing application in the second half of the year.
The Hong Kong Stock Exchange is becoming an increasingly popular place for IPOs as a result of the rising tension between the United States and China. For example, last year, major companies such as smartphone maker Xiaomi and food delivery service Meituan Dianping listed their stocks in the HKEX.
Alibaba already tried to sell its shares in the HKEX five years ago, however, its filing was rejected due to rules around company structure. As a result, the Chinese technology giant debuted on the New York Stock Exchange (NYSE: BABA).
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