Better position: Alibaba’s headquarters in Hangzhou, China. The company’s listing conversion will not involve any new shares or fundraising. — Bloomberg
Hong Kong: Tech heavyweight Alibaba Group Holding Ltd says its voluntary conversion of secondary listing to primary listing on the Hong Kong stock exchange will become effective on Wednesday, a move experts says will attract the equivalent of billions of US dollars in investment from the Chinese mainland via the stock connect programme linking the Shanghai, Shenzhen and Hong Kong bourses.
Alibaba said last Friday in a statement that it will have dual primary listings on both the Hong Kong bourse and the New York Stock Exchange.
