Alibaba upgrades Hong Kong listing status to primary

This move makes Alibaba eligible for the SAR’s Stock Connect programmes, which will help the firm tap a larger group of Chinese investors; however, rival PDD Holdings saw its shares drop sharply on the Nasdaq this week, and JD.com has unveiled a $5bn share buyback plan.

Chinese tech giant Alibaba will convert its stocks listed on the Hong Kong Stock Exchange (HKEX) to a primary listing, from what has been a secondary one since 2019, effective this week on August 28.

¬ Haymarket Media Limited. All rights reserved.

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