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Companies files plan to raise about $3.2bn in Hong Kong listing

Filing comes after US securities regulator warns investors on Chinese companies

A delivery worker in Beijing. The company continues to invest in technology and infrastructure as it grapples with thin margins amid increasing competition with such rivals as Alibaba and Pinduoduo.   © Reuters

HONG KONG -- Chinese e-commerce company has filed for a secondary listing in Hong Kong that could raise about $3.2 billion, according to two people familiar with the deal.

Nasdaq-listed, which currently has a market valuation of $64 billion, filed for the offering confidentially with the Hong Kong Stock Exchange this week and aims to sell 5%, one of these people said.

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