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14 November, 2019 00:00 00 AM
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China retail giant Alibaba okays huge Hong Kong listing

AFP, Hong Kong

Chinese online retail titan Alibaba has been given the go-ahead to list shares in Hong Kong, reports said yesterday, in what could be the city's biggest IPO in almost a decade.

Approval for the sale will also give the city's financial authorities a huge boost as Hong Kong is battered by months of pro-democracy protests that have tarnished its image for security and hammered the Hang Seng Index.

Asia's biggest company will kick off a weeklong roadshow from yesterday as it looks to garner interest from institutional and retail investors, said Hong Kong's South China Morning Post, which is owned by Alibaba.

It added, citing unnamed sources, that the share price will be agreed on November 20, with trading in the firm expected in the week of November 25.

 

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Editor : M. Shamsur Rahman
Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

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