Alibaba Group Holding Limited (NYSE:) is reported to be considering raising $20 billion through a second stock listing in Hong Kong, Bloomberg reported Tuesday morning. The September 2014 BABA stock initial public offering on the New York Stock Exchange was the biggest in history.
The move by Alibaba could come as soon as the second half of 2019, according to the report. A second listing would help BABA to diversify its funding channels and boost liquidity.
BABA stock is down almost 16% in the last three months as U.S.-China trade tensions have heated up. The S&P 500 index is up less than 1% in the same period. Alibaba reported it had about $30 billion in cash, as of March.
InvestorPlace contributor Vince Martin that “Alibaba has done its job, but it doesn’t feel like it’s been rewarded enough.” Adding, “The question is when, or if that will change. Recent trading suggests it might take quite a bit of time.”
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