HONG KONG: Chinese e-commerce giant Alibaba Group is poised to launch a Hong Kong share sale expected to raise up to US$13.4bil as soon as today, according to two sources with knowledge of the discussions.
The deal – which would be the world’s biggest cross-border secondary listing – will be seen as a boost for Hong Kong, which has sunk into its first recession in a decade as more than five months of street protests and worries about the US-China trade war took their toll.
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