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Is India's richest man Mukesh Ambani betting on US-China tech war?

US-traded Chinese technology firms such as JD.com and NetEase are looking for an alternative home closer to the mainland in case tensions between Washington and Beijing escalate

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A $7 billion rights issue, Reliance’s first in three decades, buttressed by more than $10 billion raised in a month from the sale of shares in unlisted Jio Platforms may help cut the company’s $20 billion of net debt to zero before Ambani’s March 2021 target.

Bloomberg

3 min read Last Updated : May 28 2020 | 1:16 AM IST

Petrochemicals czar Mukesh Ambani plans to list his fledgling digital business overseas, Bloomberg News reported Tuesday, citing people with knowledge of Jio Platforms’s initial public offering, which is planned for the next 12 to 24 months.

Going to the New York Stock Exchange or Nasdaq would make sense. US-traded Chinese technology firms such as JD.com and NetEase are looking for an alternative home closer to the mainland in case tensions between Washington and Beijing escalate, as my colleague Nisha Gopalan wrote this week. Alibaba held a secondary listing in Hong Kong in November. With Washington considering a range of

Topics : Mukesh Ambani Reliance Jio US-China Technology S&P Nasdaq IPO Tech IPOs Alibaba JD.com Facebook General Atlantic Technology firms stocks Wall Street Reliance Industries

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