Alibaba Group

Alibaba Group raises $11.2 billion in Hong Kong listing

Illustration
Illustration: Aïda Amer/Axios

Alibaba Group raised around $11.2 billion via a secondary share sale in Hong Kong.

Why it matters: It's the largest Hong Kong listing in nearly a decade and returns Alibaba to the exchange where it first listed in 2007 (later it went private and then IPO'd in New York).

Alibaba moves forward with secondary stock listing in Hong Kong

illustration of a black grocery bag with chinese stars on it in the middle of the desert
Illustration: Sarah Grillo/Axios

Alibaba Group is moving forward with a secondary stock listing in Hong Kong that could raise more than $15 billion by the end of November, per multiple media reports.

Why it matters: This would rank as the ninth-largest equity float of all time, or tenth if Saudi Aramco somehow gets out first, with Alibaba's New York IPO currently in top position.