Alibaba’s proposed USD$13.4 billion debut on the Hong Kong Stock Exchange (HKSE) is expected to be its first paperless listing according to local sources.
Sources said to Reuters that Alibaba plans to fully automate the retail subscription leg of its imminent listing, amidst turmoil in Hong Kong created by unabating protests.
Alibaba will not print a physical version of its 661-page prospectus, which would be difficult for investors to obtain given the chaos affecting Hong Kong’s financial district.
Companies in Hong Kong have traditionally launched their IPO’s by placing prospectuses with banks, which would in turn accept paper order forms from retail investors at their branches during extended opening hours.
