Chinese retail giant Alibaba is looking to list on the Hong Kong Stock exchange later this month. According to Thomson Reuters, the e-commerce conglomerate is targeting about $15 billion, a vote of confidence in the Asian Financial Hub.
Alibaba’s 2014 listing on the New York Stock Exchange was the biggest in US IPO history, and raised about $25 Billion.
Alibaba will begin the listing process on November 25. The company will seek approval from Hong Kong’s listing committee on Thursday 14. The transaction will be the world’s biggest cross-border secondary listing.
The secondary listing in Hong Kong comes after Alibaba’s decision to drop plans for a primary listing in the city in 2013.