Too Long; Didn't Read
In late November, Chinese internet giant Alibaba issued shares on the Hong Kong Stock Exchange. This would have been the largest IPO of the year until Saudi Aramco announced its IPO in early December. With this IPO, Alibaba continues to expand its foreign investor base by amassing capital abroad. Alibaba claims that the motivation behind its Hong Kong IPO is threefold: to continue expanding on its user acquisition, increase operational efficiency and propel innovation. Alibaba Group is the first Chinese Internet company listed on both the New York and Hong Kong stock exchanges.