Alibaba Group plans to add Hong Kong as main listing venue
International Business News – After the Hong Kong Stock Exchange completes the review process, Alibaba will be dually listed on the main board of the Hong Kong Stock Exchange and the New York Stock Exchange.
The announcement shows that the relevant process is expected to take effect before the end of 2022.
It is understood that after Alibaba’s dual main listing in Hong Kong and New York, the depositary shares listed in the United States and ordinary shares listed in Hong Kong can continue to be converted into each other, and investors can continue to choose to hold Alibaba shares in either form. This will attract more international capital to Hong Kong.
Analysts believe that after the implementation of the dual main listing, the pricing of Chinese stocks in the US and Hong Kong stocks will be independent of each other, which is expected to enhance the pricing power of the Hong Kong securities market. Increased liquidity and improved pricing power will help Hong Kong further consolidate and enhance its status as an international financial center. The choice of dual main listing by Chinese concept stocks does not affect their listing status in the United States. For a long time, overseas funds have played a significant role in the development of Chinese technology companies. The listing of a number of Chinese stock companies such as Alibaba in the United States has also enhanced global capital’s understanding of Chinese companies and the Chinese market.
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