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Bond Market News
Alibaba Seeking Primary Listing in Hong Kong
July 26, 2022
Alibaba is seeking to upgrade its secondary listing on Hong Kong’s stock exchange to a primary listing, which will give it direct access to a wider pool of mainland Chinese investors. Additionally, this move will allow the Chinese e-commerce giant to seek inclusion in the Stock Connect link with the Shanghai and Shenzhen exchanges. According to Bloomberg, analysts believe that the primary listing in Hong Kong also serves as a back-up plan in light of increasing risks that Chinese firms might get delisted from US exchanges.
Alibaba’s 2.7% 2041s have jumped 0.59 points and is currently trading at 69.4, yielding 5.32%.
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