The Strategist

Alibaba to hold first listing on Hong Kong Stock Exchange



07/26/2022 - 11:34



Alibaba Group Holding, the largest Internet company in China, announced that it would perform an initial offering on the Hong Kong Stock Exchange.



hinglish Notes
hinglish Notes
The company's managers has been given permission by the board of directors to file for a primary listing on the main board of the Hong Kong Stock Exchange, according to a statement from Alibaba Group Holding Limited.

It should be mentioned that the company will have a primary listing on the exchange in New York in the form of American Depositary Shares (ADS) and on the exchange in Hong Kong - in the form of ordinary shares - once the process is finished at the end of the year.

At the moment, Alibaba is secondary listed on the Hong Kong Stock Exchange's main floor. Investors will still have a choice as to which form to hold Alibaba stocks in since the company's shares listed in Hong Kong and the United States are interchangeable.

In Hong Kong, shares of the company are up 5.6 percent.

source: bloomberg.com

 




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