HONG KONG (News Team) – Alibaba (BABA.N) has prolonged its investment banking syndicate as it works in direction of a $10 billion to $15 billion itemizing in Hong Kong at the finish of the month, per three sources with protest info of the matter.
The accumulate Chinese language retail huge has appointed Citigroup, JP Morgan and Morgan Stanley to work on the deal, as used to be first reported on Saturday by Bloomberg.
The deal is being led by China Worldwide Capital Corporation (CICC) and Credit Suisse, with the firm attributable to face a Hong Kong Inventory Alternate itemizing committee hearing this coming Thursday, Nov. 14.
Alibaba, JP Morgan and Morgan Stanley representatives declined to touch upon the appointments. A Citigroup spokesman did no longer at once acknowledge to News Team.
News Team published on Friday that the Alibaba itemizing route of will launch the week of Nov. 25. [nL3N27O2Q4]
Reporting by Scott Murdoch; Editing by Tom Hogue