HKEx courting Alibaba

Hong Kong Exchanges and Clearing Ltd (HKEx) is trying to lure China's e-commerce giant Alibaba Group to go public on its bourses as the first dual-currency stock to be listed in Hong Kong, news portal sina.com reported Monday.

The report said that if Alibaba got listed on HKEx, it could have a dual-currency share sale in both the Chinese mainland currency and the Hong Kong dollar.

Media reported that the size of the Alibaba IPO is expected to total $15 billion - close to the $17 billion Facebook raised last year - and its market value could amount to over $70 billion.