Alibaba aims to file a listing application in Hong Kong confidentially as early as the second half of 2019, the people said. A Hong Kong offering may have the benefit of tightening Alibaba’s ties with Beijing, in addition to the money raised. A successful deal will rival AIA Group Ltd.’s 2010 IPO as Hong Kong’s largest-ever share sale, a triumph for a city that’s ceded many of China’s largest corporations to U.S. exchanges.
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