Alibaba planning to list $13 Billion in Hong Kong market
Chinese technology giant Alibaba is planning to list in Hong Kong in what it calls a “$13 billion vote of confidence” in the turbulent city’s markets, in an attempt to increase its global reach. The company gave the confirmation about its plans on Friday. It will offer 500 million shares at a maximum of HK$188 a piece. The IPO can be seen as a boost for authorities wrestling with pro-democracy protests.