FILE PHOTO: A logo of Alibaba Group is seen at an exhibition during the World Intelligence Congress in Tianjin, China-May 16, 2019. REUTERS/Jason Lee
(Reuters) – Alibaba Group Holding Ltd is considering raising $20 billion through a secondary listing in Hong Kong, Bloomberg reported on Monday, citing sources.
The e-commerce company is said to be working with financial advisors on the planned offering and is directed to the file list application in Hong Kong confidential as early as in the second half of the year 2019, according to the Bloomberg report.
Alibaba not immediately respond to a request for comment.
Alibaba raised $25 billion from the sale of shares on the New York Stock Exchange in 2014, after struggling to persuade Hong Kong regulators to approve the proposed governance structure.
A second entry is designed to diversify Alibaba’s financing and the increase of the liquidity, according to the Bloomberg report.
The move comes as Chinese companies face an increasingly hostile U.S. government, which has a number of Chinese tech companies on a black list.
Report by Saumya Sibi Joseph in Bengaluru; Editing by Matthew Lewis