With the listing, which should take place by the end of 2022, Alibaba would then have primary listings in Hong Kong and New York, as the group announced on Tuesday. So far, Alibaba only has a secondary listing in the Asian financial metropolis. Through a primary listing, the shares could then also be traded via the Shanghai-Hong Kong Stock Connect on the Chinese mainland stock exchanges in Shanghai and Shenzhen.
The company hopes to expand its investor base. The move is also likely to be a concession to the Chinese government, which recently increased the pressure on the country’s Internet giants to limit their power and that of their owners. Shares rose 6 percent on Tuesday in Hong Kong. Alibaba was listed in the United States in 2014 – with a volume of more than $20 billion, it was one of the largest IPOs in the world to date.
Meanwhile, according to information from the “Financial Times”, Alibaba is cutting its growth targets for the US business. In order to keep up with the retail giant Amazon worldwide, Alibaba launched the business-to-business platform Alibaba.com three years ago – with the aim of bringing more than a million small businesses on board as customers. Now, according to “FT”, the only aim is to win 2,000 US companies for the platform every year.
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