Alibaba Files for a Hong Kong Mega-Listing

It is said to have picked China International Capital Corp. and Credit Suisse Group AG as lead banks. The offering from China’s largest corporation could raise as much as $20 billion, though Alibaba hasn’t finalized its fundraising target, the people said. Alibaba — which had roughly $30 billion of cash as of March — has ridden a surge in Chinese online commerce alongside an increasingly affluent middle class.

Via:: Alibaba Files for a Hong Kong Mega-Listing