FILE PHOTO: Alibaba Group Logo Seen at the World Internet Conference (WIC) in Wuzhen, Zhejiang Province, China, October 20, 2019. REUTERS / Aly Song / File Photo
HONG KONG (Reuters) – Alibaba (BABA.N) has extended its investment banking union as it operates $ 10 billion to $ 15 billion in Hong Kong at the end of the month, according to three sources with direct knowledge of the matter.
The Chinese Internet retail giant has named Citigroup, JP Morgan and Morgan Stanley to work on the deal, the first of which was reported Saturday by Bloomberg.
The deal is being led by China's International Capital Corporation (CICC) and Credit Suisse, with the company facing a meeting of the Hong Kong Stock Exchange's congressional list to be held this Thursday, November 14th.
Representatives from Alibaba, JP Morgan and Morgan Stanley declined to comment on the meetings. A Citigroup spokesman also declined comment.
Reuters revealed on Friday that the Alibaba enumeration process will begin the week of November 25th.
Reporting by Scott Murdoch; Editing by Tom Hogue and Christian Schmollinger