An offshoot of the U.S.-China trade impasse may be the reduction in the Chinese shares eyeing U.S. listings.
After the U.S. barred domestic tech companies from maintaining relationships with Chinese phone maker Huawei, it is feared that the sentiment will trickle down to stock exchanges too.
Billions At Stake
The company could raise billions from a stock sale, according to the Wall Street Journal.
In September 2014, Alibaba listed its shares on the NYSE following a $25-billion IPO.
At the time, the company chose the U.S. exchange,, giving the Hong Kong stock exchange the cold shoulder — primarily due to rules that barred dual-listed shares from the exchange.
Since then, the exchange has repealed the law.
The secondary listing puts Alibaba at an advantage, as it now has a bigger market for its shares, boosting its already large valuation.
Alibaba's U.S.-listed shares have a market cap of roughly $417 million.
The proposed offering is likely to be managed by China International Capital and Credit Suisse, the Journal said.
Alibaba shares were trading slightly higher at $160.15 at the time of publication Thursday.
Alibaba Ties Up With Audi, Renault And Honda For AI-powered Tmall Genie Auto Smart Speakers
What To Know About Alibaba's Russian Joint Venture
Photo courtesy of Alibaba.
See more from Benzinga
- Alibaba Ties Up With Audi, Renault And Honda For AI-powered Tmall Genie Auto Smart Speakers
- What To Know About Alibaba's Russian Joint Venture
- Stifel Adds Alibaba To Select List, Sees 40% Upside Potential
© 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.