Have you ever bought clothing during the 11.11 Taobao Sales?
Or have you heard the prowess of cashless transactions in China via AliPay?
Maybe, you have bought appliances off Lazada or ordered groceries from RedMart.
Well, all the aforementioned e-commerce businesses belong to one sole Chinese giant – Alibaba Group.
Alibaba’s steps towards its Secondary Listing in HKEX
Alibaba has recently taken decisive steps in ramping up its plans for a Secondary listing in the Hong Kong Stock Exchange.
The first step was taken when Bloomberg reported Alibaba had appointed China International Capital Corporation and Credit Suisse Group to lead a secondary listing in Hong Kong.
This was swiftly followed by Alibaba’s Annual General Meeting on 15th July 2019 where shareholders overwhelmingly approved a 1-to-8 split of the company’s US-listed stock, a move the company has said would give it greater flexibility for raising capital, including issuing new