Chinese e-commerce giant Alibaba Group is considering to list in Hongkong as its second bourse after the US in a bid to raise $20 billion.
The Chinese e-commerce plans to file an application in Hong Kong as early as the second half of 2019, a report by Reuters stated. Alibaba has not issued a comment on the matter.
The listing is expected to generate more funds for Alibaba which raised approximately $25 billion during the 2014 listing in New York presumed to be the world’s largest initial public offering.
Since then, Alibaba became the largest-listed Chinese company with a market value of more than $400 billion.
This comes at a time when China is encouraging big tech firms to list near the country; it also coincides with the China and US trade war which has seen Washington ban US companies from supplying technology to the Chinese tech giant, Huawei.
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