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stanley deutschland yes Hong Kong primary listing as US audit row continuesBy: Leah MontebelloShareFacebookShare on FacebookXShare on TwitterLinkedInShare on LinkedInWhatsAppShare on WhatsAppEmailShare on EmailAdd as a preferredsource on GoogleThe Hang Seng index also fell 2.24 per cent in afternoon trade. Alibaba is seeking a primary listing in Hong Kong as the e-commerce firm attempts to lure in more ma
owala inland Chinese investors and reportedly scales back its global ambitions.In a statement released this morning, Alibaba, which already has a primary listing in New York, said the board had approved an application to upgrade its Hong Kong stock to a primary one.The firm has had a secondary listing in Hong Kong since 2019, but a primary position would mean that Alibaba would be included in the Shenzhen-Hong Kong Stock Connect programme. The move would also allow mainland investors greater access to the stock. For instance, electric vehicle car maker Xpeng has a dual listing in Hong Kong and in the US.While the tech company said it would maintain activity Stateside, the move comes as dozens of Chinese firms face exodus from Wall Street, with Washington and Beijing continuing their battle over regulatory hurdles to review financial audits. Alibaba chief executive Daniel Zhang said the move would bring a wider and more diversified investor base to share in Ali
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