Here's When Alibaba's Primarily Listing In Hong Kong Is Expected To Happen

Benzinga2022-08-09

The Hong Kong Stock Exchange has put out a filing by Alibaba Group Holding Ltd that seeks to change its secondary listing status on the Main Board of the Hong Kong Stock Exchange to a primary listing.

The effective date of the primary conversion is expected to be before the end of 2022, it said. Upon the conversion, shares of Alibaba will be dual primary listed on the Hong Kong Stock Exchange and the NYSE.

Alibaba’s Statement: Given the substantial presence of its business operations in Greater China, and the nexus between Hong Kong and its principal business operations there, Alibaba said it expects the primary conversion to allow it to broaden its investor base and facilitate incremental liquidity.

Why It Matters:Jack Ma-founded Alibaba and a few other U.S.-listed Chinese companies have been facing the threat of getting delisted from U.S. bourses over disclosure norms of the Securities and Exchange Commission.

Price Movement: Shares of Alibaba were trading about 1% higher in Hong Kong, while U.S. shares closed 1.9% down at $90.81.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

MARYGOH
2022-08-10
MARYGOH
Ok
Liuliusg
2022-08-09
Liuliusg
Ok
AndyChoo
2022-08-09
AndyChoo
Thx
Jeremysee
2022-08-09
Jeremysee
Up
FrankieTok
2022-08-09
FrankieTok
Ok

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