https://www.reuters.com/markets/asia/chinas-alibaba-apply-primary-listing-hong-kong-2022-07-26/
SHANGHAI/HONG KONG, July 26 (Reuters) - Alibaba (9988.HK) plans to add a primary listing in Hong Kong to its New York presence, targeting investors in mainland China as it becomes the first big company to take advantage of a rule change in the financial hub to attract high-tech Chinese firms.
The e-commerce giant's move, announced on Tuesday, comes as both Washington and Beijing sharpen scrutiny over Chinese companies' listings, and after a devastating regulatory crackdown in China left Alibaba with a $2.8 billion fine and scuppered an initial public offering (IPO) of its affiliate Ant Group.
- Expects to add HK primary listing by end-2022, keep NYSE listing
- HK shares jump nearly 6%; move will diversify investor base -CEO
- Seen boosting mainland China investor access to Alibaba shares
- In line with move Ant Group execs step down from Alibaba partnership
Submitted July 26, 2022 at 06:29AM by Raw_Rain https://ift.tt/R76ILGg
