When will Ali be listed again in Hong Kong? It is preliminarily estimated that Hong Kong's secondary listing will raise US $20 billion. According to the news on May 28, Alibaba group is considering a secondary listing in Hong Kong and raising US $20 billion for it. At present, it is discussing the listing plan with the financial adviser and secretly submitting the listing application in Hong Kong as early as the second half of 2019.
36 krypton hereby asked Alibaba for confirmation, and the other party said that it would not comment on market rumors. According to Bloomberg, the secondary listing plan in Hong Kong is still in the preliminary stage and may change.
As early as November 2007, the B2B company of Alibaba (1688. HK) logged on the Hong Kong Stock Exchange and raised a total of HK $11.6 billion, becoming the largest financing scale of Chinese Internet companies at that time. After listing, the company's share price soared to three times the issue price, becoming the 'King of new shares in Hong Kong stocks' that year, and nearly 1000 Alibaba employees became millionaires.
However, the following financial crisis caused the share price of Alibaba B2B company to plummet all the way; In addition, affected by multiple factors such as the expansion of C2C market and the resurgence of B2C field, Alibaba's B2B business began to become a chicken rib. Alibaba B2B finally chose privatization in 2012 and withdrew from the Hong Kong stock exchange.
In 2013, Alibaba group hoped to be listed in Hong Kong under the partnership system with the same shares and different rights. However, due to the fact that the Hong Kong Stock Exchange did not recognize the partnership system and did not accept the mechanism of different rights with the same shares, Alibaba's listing in Hong Kong finally encountered a wall.
In September 2013, Cai Chongxin, executive vice chairman of Alibaba group, issued a document saying: "we do not expect Hong Kong regulators to make changes for Alibaba." Lu Zhaoxi, CEO of Alibaba group, also said that it still takes time to study and digest the governance structure innovation of emerging enterprises in the Hong Kong market.
In 2014, Alibaba went to the New York Stock Exchange and raised a total of $25 billion, becoming the largest IPO in the world.
After the loss of Ali, HKEx gradually realized that different rights of the same share are becoming more and more popular in new economy companies. If it does not seek change, it will lose more. Liang Jinsong, former financial secretary of Hong Kong, once said that it was a major mistake not to let Alibaba list in Hong Kong. Li Xiaojia, CEO of the Hong Kong stock exchange, also expressed his regret for missing Ali on public occasions.
In April 2018, dual equity companies were allowed to be listed under the new regulations of the Hong Kong stock exchange, and innovative industry companies that have been listed overseas took Hong Kong as the standard for the second listing place. Xiaomi, meituan, Yingke, Haidilao, baobaoshu and other enterprises successively went to Hong Kong, bringing the Hong Kong stock exchange the highest amount of IPO funds in the world. This also makes it possible for Ali to be listed again in Hong Kong.
In an interview with Caijing, Li Xiaojia talked about Alibaba's return to Hong Kong. He said that Ali will come back when he thinks the Hong Kong market can solve its problems. At present, it does not need financing or another trading place - unless this trading place can bring new vitality. But "it's only a matter of time before Ali will come back.".
Now, the news of Ali's secondary listing in Hong Kong has come out, and the market interprets it as "diversifying financing channels and increasing liquidity".