Alibaba Group to Add Hong Kong as Primary Listing Place on August 28th

TapTechNews August 23rd news, Alibaba Group today announced the release of an announcement, declaring that Hong Kong will be added as the primary listing place, and will be primarily listed on the Main Board of the Hong Kong Stock Exchange on August 28th, becoming a company with dual primary listings on the Hong Kong Stock Exchange and the New York Stock Exchange.

The conversion of the company's voluntary change from secondary listing on the Hong Kong Stock Exchange to primary listing will take effect. On the effective date, the company will have dual primary listings on the Hong Kong Stock Exchange and the New York Stock Exchange, and the stock symbol 'S' will be removed from the company's stock abbreviations in the Hong Kong dollar and RMB counters on the Hong Kong Stock Exchange. This voluntary conversion to dual primary listing does not involve the issuance of new shares or financing by the company.

TapTechNews inquiry found that the closing price of Alibaba's Hong Kong shares on August 22nd was HK$81.65 (currently about 74.7 RMB), and the total market capitalization reached HK$1.55 trillion (currently about 1.42 trillion RMB).