Alibaba wins approval to sell shares in massive secondary listing in Hong Kong - media ...News

Chinese e-commerce giant Alibaba, the current record-holder for the largest IPO in history, may sell up to US$15 billion of new shares during the planned secondary listing in Hong Kong. The Hangzhou-based company’s listing application was approved by Hong Kong Exchanges & Clearing, media reported, citing sources on Wednesday. Thus Alibaba became the first firm to successfully qualify for the secondary listing on the Hong Kong stock exchange under the new rules this year. Alibaba reportedly plans to offer about 500 million shares, and may raise between $10 billion and $15 billion, according to different estimates. The share sale could b

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