On November 20, Alibaba successfully completed its secondary listing on Hong Kong Mainboard for $11.2bn since its first and largest listing on NYSE in 2014. The deal is the largest new listing on Hong Kong Mainboard in the last 5 years and the largest secondary listing on record.
As a trusted financial platform partner, Dealogic helped the bookrunners execute the transactions through the DealManager network.
Transaction Details–Alibaba Group Holding
Nationality: China
Industry: Technology
Deal Value: $11.2bn
Deal Type: Fully marketed secondary listing
Exchange: Hong Kong – Mainboard
Ticker: 9988
Priced: November 20, 2019
Bookrunners: CICC, Citi, CS, HSBC, ICBC, JPM, MS
Key Points
- Alibaba’s primary listing in 2014 raised $25.0bn on NYSE, a record IPO to date, whereas this Hong Kong listing is also a record secondary listing at $11.2bn
- Largest new listing globally since Softbank’s IPO in 2018 with $21.3bn
- Largest new listing on Hong Kong Mainboard since AIA Group’s IPO in October 2010 raising $20.5bn
- Fourth largest technology & internet related IPO on record globally
Top 3 Global Secondary Listing on Record
- Alibaba Group Holding with $11.2bn | China | Nov 2019
- Huatai Securities with $5.0bn | China | Aug 2000
- Petrobas with $4.3bn | Brazil | Mar 2015
Top 3 Hong Kong New Listing– Last 5 Years
- Alibaba Group Holding with $11.2bn | China | Nov 2019
- Postal Savings Bank of China with $7.6bn | China | Aug 2018
- China Tower Corp with $7.5bn | China | Sep 2019
Data Source: Dealogic as of November 21, 2019