Beijing (AFP)

Already listed on Wall Street, Chinese e-commerce giant Alibaba on Friday launched the process of its introduction to the Hong Kong Stock Exchange, where it hopes to raise nearly 12 billion euros, when the former British colony sinks into political violence.

The group founded by the eccentric billionaire Jack Ma, who had made the biggest IPO in history in Wall Street in 2014, chose the Chinese market to raise capital to finance its international development.

Alibaba will offer some 500 million shares at a maximum price of 188 Hong Kong dollars (21 euros) to investors from the former British colony, the number 8 being considered auspicious in China. That is a total of 10.8 billion euros.

An over-allotment option is planned, which could allow Alibaba to rake in up to 11.7 billion euros, making it the largest IPO in the former British colony since 2010.

"For a young company that is only 20 years old, it's a new beginning," said group CEO Daniel Zhang in a letter to investors. He also sent a reassuring message to Hong Kong, after five months of increasingly violent protests against the growing influence of the communist regime on the autonomous territory.

- Closer to Beijing -

Alibaba dismissed "with regret" a listing in Hong Kong when he chose New York in 2014, Zhang said. Alibaba had collected $ 25 billion - an absolute world record for an IPO.

Since then, Hong Kong has allowed listed securities in its place to be also abroad.

Alibaba had planned to enter the Asian market this summer, but had postponed its plan due to the Sino-US trade war and growing social tension in Hong Kong.

"In this period of change, we continue to believe that Hong Kong's future remains resplendent, and we hope to contribute, in our own way, to the future of Hong Kong," Zhang said on Friday. the firm not to postpone again its IPO.

This should satisfy Beijing who wants to see more large Chinese companies listed in Asia. China has just created a new technological listing on the Shanghai Stock Exchange.

The head of the Hong Kong executive, Carrie Lam, also encouraged the founder of Alibaba to elect the Asian financial center.

"The listing on the Hong Kong Stock Exchange will allow more customers and shareholders of Alibaba (...) to participate in the growth of the company," said the latter.

The Hang Seng Index of the Hong Kong Stock Exchange rose 0.48% after the announcement of Alibaba.

- 2 billion consumers in 2036 -

The behemoth founded in 1999 took full advantage of the phenomenal consumer appetite for online commerce - a national sport in China - and has become one of the largest market capitalization companies in the world.

Its various online commerce platforms bring together in China even 785 million monthly users on mobile phones.

Over the next five years, the group aims to serve one billion consumers in China (out of a total population of 1.4 billion). By 2036, the target is 2 billion consumers globally. "As the world is transformed into a digital economy (...) globalization is the future of the Alibaba group," said Daniel Zhang in his letter to investors.

Alibaba waited for the traditional "Singles Day" on Monday, the biggest day of global sales, to proceed with its IPO. The giant, headquartered in Hangzhou (east), has achieved record sales of nearly 35 billion euros in 24 hours, a turnover up 26% over last year .

While 55-year-old Jack Ma retired last September, his group more than tripled its net profit in the last quarter to 9.24 billion euros, while its turnover jumped 40 percent to 15 percent. EUR 15 billion.

© 2019 AFP