Sep 06, 2023 12:03 PM (GMT+8) · EqualOcean
Alibaba's stock rose by 3.3% to ¥93.15 on 5 September. According to Bloomberg, Alibaba's cloud business division is contemplating private financing from Chinese state-owned enterprises in preparation for its potential Hong Kong listing. Source familiar with the matter suggests that Alibaba Cloud might seek to raise approximately CNY 100 billion to CNY 200 billion (approximately USD 13.6 billion). Potential investors may include state-owned telecommunication companies. Spokespersons from China's three major state-owned telecom operators did not respond to requests for comment. It's noted that the financing considerations are still in the preliminary stages, with details like timing, scale, and amount remaining uncertain and subject to future adjustments.

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