China’s to sell $ 4 billion of IPO shares

Hong Kong-based tech company Inc. plans to sell up to $ 4.3 billion worth of shares in what is expected to be one of this year’s biggest public offerings in China, the Financial Time reported.

The online retail giant, which has been compared to a cross between eBay and Amazon, made 133 million shares available to institutional investors on Friday (June 5). It would raise $ 3.8 billion based on the last closing price of’s U.S.-listed shares, according to documents viewed by The Times. That number could reach $ 4.3 billion if bankers execute an option to increase the allocation to meet demand. is expected to list in Hong Kong on June 18. It’s the same day that the company, Apple’s official Chinese reseller, will hold its big online shopping festival, called 6.18, by slashing the prices of its phones, PYMNTS reported.’s shares are listed on the Nasdaq in New York. She is among several Chinese companies that are considering returning to markets closer to home amid fears of escalating hostilities between the United States and China.

The sale of shares comes at a time of growing pressure from U.S. lawmakers for further financial scrutiny of Chinese companies. The prospectus says a bill is under consideration in Capitol Hill that would remove Chinese companies from the list.

Charlie Li, the exiting official of the Hong Kong Stock Exchange, told the newspaper that a large number of Chinese companies listed in the United States would seek to raise funds in Hong Kong due to the less friendly atmosphere in the United States. .

Still, faces competition from Alibaba Group Holding Ltd., which raised around $ 13 billion through a sale of shares in the city last November.

In addition, PYMNTS reported that Pinduoduo, the Chinese e-commerce company, has raised $ 1.1 billion to finance its growth, offer more products and improve its shopping experience. has appointed Bank of America Securities, UBS and CITIC Securities as co-sponsors of the IPO.



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