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Alibaba Resumes Plan for Hong Kong Listing in a Boost for the City


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Alibaba Resumes Plan for Hong Kong Listing in a Boost for the City

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HONG KONG — Alibaba, the Chinese e-commerce giant, resumed plans to raise $10 billion or more in Hong Kong, giving the protest-wracked Asian financial capital a much-needed vote of confidence.

Alibaba in August postponed plans to reap $10 billion to $15 billion by selling shares in Hong Kong after worsening clashes between demonstrators and the police shook a territory long prized for its stability and rule of law. The move essentially revives those plans. The company expects the amount it hopes to raise may be closer to $10 billion, said a person familiar with the company’s plans, who spoke only on the condition of anonymity because the discussions were not yet public.

The deal could happen as soon as the end of this month, the person said. Alibaba executives are expected to appear in front of the listing committee of Hong Kong’s stock exchange after Singles Day, the Nov. 11 shopping holiday that the Chinese company created and that has become the world’s largest one-day sales event. The resumption was reported earlier by Reuters.

Hong Kong is a part of China that operates under its own laws, making it a critical bridge between the mainland and the rest of the world. For years multinational companies made the city their headquarters for the region because it offered access to China’s booming economy while ensuring legal protections and the free flow of information.

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