A person familiar with the situation told CNN Business that the company “will not rule out an option on any listing,” noting that a secondary share listing would help the company diversify funding channels and add liquidity.
Listing in Hong Kong would make sense, given that investors there know the company better than in other countries, the person said.
Alibaba declined to comment.
The Chinese tech firm holds the record for the world’s largest IPO, raising $25 billion when it listed on the New York Stock Exchange in 2014.
A secondary listing in Hong Kong would be “a big win” for the city, said Ringo Choi, the head of Asia-Pacific IPOs for consulting firm Ernst and Young.
Alibaba chose to go public in New York because the Hong Kong Stock Exchange had a “one share, one vote” policy when it came to publicly listed companies. But Alibaba founder Jack Ma and other key management figures wanted to exert more control over the company, according to Choi.
Hong Kong changed the rules last year, allowing companies with large market values to have different voting rights for individuals that have crucial roles.
Alibaba is aiming to file a listing application in Hong Kong in the second half of this year, according to Bloomberg.
Alibaba has also become a major investor in businesses around the world. It has plowed money into companies like Chinese ride-hailing firm DiDi Chuxing and Indian payments platform Paytm.
Earlier this month, the company reported earnings for its fourth quarter and fiscal year that topped forecasts. But China’s slowing economy and ongoing trade tensions with the United States have made Alibaba investors skittish. Shares in the company are up 13% for the year, but down more than 25% from a high last June.