Alibaba's Hong Kong listing set to draw more Chinese offerings

Beijing 'wants to show business goes on' despite protests with $13bn stock sale

Alibaba's planned Hong Kong listing is set to be the biggest of the year at nearly $13 billion. © Reuters

NARAYANAN SOMASUNDARAM, Nikkei Asian Review chief banking and financial correspondent

November 20, 2019 17:00 JST

Updated on November 20, 2019 19:23 JST

HONG KONG -- Alibaba Group Holding is set to raise as much as $12.9 billion in an oversubscribed share offering that is expected to draw more Chinese companies to list in Hong Kong, thereby boosting the city's status as a global financial hub despite more than five months of violent anti-government protests.