Phoenix.com Science and Technology News On July 26th, Beijing time, Alibaba Group issued an announcement today that the board of directors has authorized the company's management to apply for the main listing status on the main board of the Hong Kong Stock Exchange.

Alibaba Announcement

Ali said that the company is currently listed on the second listing of the main board of the Hong Kong Stock Exchange and will apply for the main listing of Hong Kong in accordance with the Hong Kong listing rules. It is expected that it will take effect by the end of 2022. After the relevant listing processes are completed, Ali will become a company that uses the US Stock Exchange (ADS) on the New York Stock Exchange and the two major listed companies in the Hong Kong Stock Exchange with ordinary shares. Ali's ADS listed in the United States and ordinary shares listed in Hong Kong can be converted to each other. Investors can continue to choose one of the companies listed on the NYSE or one of the general shares of ordinary shares listed on the Hong Kong Stock Exchange.

Ali said that since the second listing in Hong Kong in November 2019, the company's public circulation in the Hong Kong Stock Exchange has increased significantly. For the six months ended June 30, 2022, the average daily transaction volume of the company's shares in the Hong Kong market was about $ 700 million, and the average daily transaction volume of the company's shares in the US market was about 3.2 billion US dollars. Given that the company has a large number of business operations in Greater China, the company's expected dual major listing status will help expand its investor foundation and bring new liquidity, especially to reach more regions in China and other parts of Asia. investor. The main listing procedures in Hong Kong include (but not limited to) to meet the relevant regulations and market conditions of the Hong Kong Stock Exchange. We will apply for further announcements in a timely manner. (Author/Xiao Yu)

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