Alibaba has won approval from the Hong Kong stock exchange for a secondary listing in the city to raise as much as $15bn, according to two people familiar with the matter, in what is set to be one of the world’s biggest fundraisings this year.
The Chinese ecommerce company will start a week-long investor roadshow on Wednesday ahead of bookbuilding, after it secured approval for the mammoth fundraising from the Hong Kong stock exchange’s listing committee, said one of the people.
Pricing is expected to be confirmed on November 20 with the shares to start trading on the Hong Kong exchange in the week of November 25, the person said.
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