China’s e-commerce giant Alibaba Group is set to launch a Hong Kong share sale that is anticipated to raise $15 Billion as early as Thursday, according to the two sources knowledgeable of the discussions.
As Alibaba executives prepare for the launch on Thursday, the sources said that the timing could get lost considering the developments on the ongoing protests in Hong Kong.
The deal, marked as the biggest cross-border secondary listing in the world, is anticipated to raise back Hong Kong. The country has been subjected to five months of protests and trade war tensions, recently entering its first recession in ten years.
Alibaba was in the plans to sell shares earlier this year but postponed the deal in August when ongoing protests in Hong Kong escalated to violence.