Bilibili Board Approves Move to Pursue Dual-Primary Listing

Dow Jones2022-03-16

Bilibili Inc. said its board of directors has approved a motion to pursue the voluntary conversion to dual-primary listing on the main board of the Hong Kong Stock Exchange.

The company said the board also authorized senior management to proceed with the relevant preparatory work and undertake the necessary procedures to complete the primary conversion.

After the primary conversion, the company will remain as a dual-listing company on the Hong Kong Stock Exchange's main board and the Nasdaq Global Select Market, and its Class Z ordinary shares and American depositary shares will continue to be traded on both stock exchanges, it said.

The primary conversion is conditional upon and subject to market conditions, further approval of the board, and the obtaining of the necessary regulatory approvals, the company said.

Bilibili shares were up 32% to $24.81 in premarket trading.

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Comments

  • robot1234
    2022-03-17
    robot1234
    HKI is up 9% yesterday and 6% currently. Bilibili's shares jump as much as 25.2% to HK$225, extending gains for a second day after a 40.8% jump in the previous session. That is an increase of more than 65% within 2 trading days. It is a broad base appreciation. Tech counters such as JD.com (JD) jumps 36%, Alibaba (9988.HK) rallies 27% and NetEase (NTES) surges 23% in Hong Kong trade. Short sellers are now paying back to the market all their profits and more. Increasing more and more short sellers are coming to term the Chinese market is the most difficult to short.
  • Bspn
    2022-03-17
    Bspn
    Ok
  • SCLIEW
    2022-03-17
    SCLIEW
    666
  • Annalz
    2022-03-16
    Annalz
    Bili👍
  • Eded
    2022-03-16
    Eded
    How will this affect the listing in hk and us?
  • MarcO
    2022-03-16
    MarcO
    Ok
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