Alibaba's 2014 listing in New York raised $25 billion in the world's largest IPO. (AFP photo)SHANGHAI: Chinese e-commerce leader Alibaba Group is exploring a potential second listing in Hong Kong that could raise US$20 billion as Beijing seeks to encourage its tech titans to list closer to home, a report on Tuesday said. The listing would be intended to open up new funding channels for Alibaba, whose 2014 listing in New York raised $25 billion in the world's largest initial public offering. An Alibaba spokesperson declined comment to AFP, saying the company does not respond to "market rumours". Alibaba has capitalised on the Chinese consumer's love of e-commerce to dominate the sector in China and become one of the world's most valuable companies.

Source: Bangkok Post May 28, 2019 03:00 UTC