Alibaba Group Holding Ltd. has confidentially filed for Hong Kong listing. According to the people close to the matter, the listing will take place in the third quarter of the year. Alibaba has declined to comment on the matter and the news was reported by Bloomberg.
It is speculated that the planned filing could aim to raise as much as $20 Billion and it will be the second blockbuster deal after it listed in NewYork for $25 Billion. The deal is led by Chinese investment bank CICC and Swiss-based Credit Suisse.
Recently, Alibaba’s financial affiliate Ant Financial and China’s transportation startup Hello bike are teaming up to provide battery-swapping services for scooters. “China is ‘a country on two wheels,” said Yang Lei, Hellobike’s co-founder and chief executive officer, adding that there are one billion trips that are completed on two-wheelers in China each day. For some context, the country has a population of about 1.4 billion. Both of the companies are setting up $145 Million Joint venture for the future e-scooters.
Alibaba is also part of the Joint Venture that includes Russian Direct Investment Fund (RDIF), Russia’s sovereign wealth fund, PJSC “MegaFon” (MoEx: MFON), a pan-Russian operator of digital opportunities and Mail.ru Group (MAIL.LI), the leading internet and IT company in Russia to integrate Russia’s key consumer internet and e-commerce platforms which will operate in compliance with local data protection regulations.