Alibaba’s decision to file for a primary listing in Hong Kong comes three years after issuing secondary shares in 2019 and eight years since its initial public offering in New York. Though transitioning to a primary listing entails additional compliance costs and management oversight compared to a secondary classification, success would enable the company’s shares to become eligible for Stock Connect, linking its equity to the Shanghai and Shenzhen exchanges.
Last month, an announcement issued by the Hong Kong Exchange and Clearing Market HKEX acknowledged the tech giant’s request, with completion subject to final approvals expected to take place by the end of the year.
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