Categories: BusinessTechnology

Chinese Giant Alibaba To Raise its IPO Up To $12.9 Billion In World’s Biggest Public Listing

Alibaba is a giant in China when it comes to the domain of e-commerce. As per the recent buzz, the company is all set to set up one of the biggest IPO this year, which is estimated to be raised to $12.9 billion. This has therefore made the public listing in Hong Kong a landmark event in itself that boost up the financial markets of a city, which seems to have gripped by a political unrest and recession. For the e-commerce giant, it has been a debut for them on the Hong Kong stock exchange, which has initially went on to go public on the New York Stock Exchange in the year 2014, thus raising around 25 billion USD making it to be the world’s biggest IPO in history.

As per the company, Alibaba will have the price shares reaching $HK176 (22.50 USD) each, made available at the discount of 2.9 percent to its New York Stock Exchange that end up closing the price as claimed by the Reuters. With this price, Alibaba has established to raise around 11.3 billion USD along with 12.9 billion USD. If you find a greenshoe option exercising the list, it may appear to have a skyrocketing demand for the shares that has caused Alibaba to close all its books just before than what it expected claims the reports of CNBC.

As per the company, the IPO is slated to hit the market on November 26, and the listing is expected to swell Alibaba’s cash pile to not more than 44 billion USD, which would be much higher than any other E2Com or internet company. The Bloomberg reports suggest that the rival e-commerce giant Tencent. With this it would have the world’s biggest IPO so far in 2019. The Alibaba’s Hong Kong listing will exceeds the Uber’s $8.1 billion public debut in the US based city of New York and AB InBev’s $5 billion IPO when it comes to the Asia business when we talk about Hong Kong for earlier this year.

With such a huge money involved in the listing, Alibaba is certainly going to be eclipsed by the KSA oil giant Saudi Aramco, which is likely to go public on the Riyadh stock exchange next month. Its IPO is all set to raise up to $25.6 billion, which is likely to break the current record for world’s largest IPO in history. With raising to such a huge height, Alibaba is going to boos tup the financial markets of HK and sliding over the recession for the first time in a decade. Also, the Alibaba’s listing is going to help to add value and strength to the Hong Kong Stock Exchange that remains this year’s largest venues for IPOs.

Kumar Nikate

After more than a decade working in the field of technology and gadgets, he is currently the QA manager. Although he has focused on product review for nationwide multi-location franchises since 2015, his resume includes combating and reporting good online reviews, which includes several local and national news appearances.

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