alibaba's dual primary listing in hong kong gains final approval
visitors check out alibaba's booth during a digital technology expo held in guangzhou, guangdong province, in november. [photo/china daily]
alibaba group holding ltd said on monday night its voluntary conversion to a dual primary listing in hong kong has been confirmed by the hong kong stock exchange.
alibaba, which already has a secondary listing in hong kong, expected the primary listing to be completed by the end of this year, the company said in a statement.
the hangzhou-headquartered company announced on july 26 it would apply for a primary listing in hong kong to further expand and diversify its investor base, which would make alibaba a dual-primary listed company on the new york stock exchange and the hong kong bourse.
the e-commerce giant went public in new york in september of 2014 in what was the biggest ipo at that time, and raised $13 billion from the hong kong stock exchange via a secondary listing in november 2019.
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