Alibaba proposes one-to-eight stock split ahead of up to $20 billion HK listing

China's Alibaba Group Holding has proposed a one-to-eight stock split ahead...

FILE PHOTO: The Alibaba group logo is seen at the high profile startups and high tech leaders gathering, Viva Tech, in Paris, France, May 16, 2019. REUTERS/Charles Platiau

The split, to be presented to shareholders for a vote at an annual general meeting in Hong Kong on July 15, will increase flexibility in the firm’s capital raising activities, including the issuance of new shares, the e-commerce giant said. “The ... subdivision will increase the number of shares available for issuance at a lower per share price,” it added.

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