Alibaba proposes stock split in preparation for Hong Kong IPO

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Chinese eCommerce giant, Alibaba Group Holding, has just proposed a share split in preparation for its initial public offering, IPO.

The eCommerce giant is proposing a one-to-eight stock.

Alibaba had hinted last month (May)that it plans to raise up to 20 billion via an IPO on the Hong Kong Exchange.

The company will be having a shareholder meeting in Hong Kong on July 15 to approve the IPO.