Home Listing method For investors and a buffer, Alibaba seeks primary listing in Hong Kong

For investors and a buffer, Alibaba seeks primary listing in Hong Kong

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For Alibaba, the newly formed Hong Kong Retail Association provides the company with a safety net against such dangers. It also gives the company a boost by making it more accessible to tens of millions of Chinese-speaking traders, who until now had only a limited ability to buy shares in an organization on which they store regularly. Alibaba shares rose more than 5% on Tuesday morning in Hong Kong trading according to the detailed information.

Although Alibaba was already buying and selling in Hong Kong, the new retail process will help it get the most out of a program that links the Hong Kong exchange with those in China. Alibaba said in a brief that it expects to complete the process by the end of the year.

“Hong Kong will also be the launching pad for Alibaba’s globalization strategy,” the company’s chief government officer, Daniel Zhang, said in a statement. He added that the new list would foster “a broader and more diverse investor base to share in Alibaba’s progress and future, especially from China and other markets in Asia.”

The dual listing marks a significant change from less than a decade ago, when Alibaba completed the world’s largest preliminary public offering by selling its shares in New York in 2014. At the time, the company was the logo of a fast-growing, low-innovative Chinese tech sector that felt like it was taking the world by storm.