Alibaba Group Holding has filed for an IPO in Hong Kong. The confidential application meant it did not need to file financial disclosures. The offering is expected to raise as much as US$20 billion ($27 billion), although the target has not been finalised. That will make it the largest offering in Hong Kong since AIA Group’s IPO in 2010. A successful fundraising could help Alibaba finance a war of subsidies in food delivery and transport services.
SINGAPORE (June 17): “We remain firmly committed to our growing traditional meat business and expect to be a market leader in alternative protein.” — Noel White, CEO of Tyson, a leading producer of meat.
Alibaba’s giant IPO
