Alibaba Group Holding Limited has announced its voluntary conversion to a dual primary listing on the Hong Kong Stock Exchange, effective August 28, 2024. This move will see Alibaba listed on both the Hong Kong Stock Exchange and the New York Stock Exchange, with the 'S' marker being removed from its stock short names for both HKD and RMB counters. The conversion does not involve issuing new shares or fundraising. Alibaba is required to comply with all relevant Hong Kong Listing Rules, the Securities and Futures Ordinance (SFO), and the Takeovers Code applicable to a dual primary listed issuer. The company has been granted waivers and exemptions from certain Hong Kong Listing Rules, including the use of U.S. GAAP for financial...Show More

Alibaba Group Holding Limited has announced its voluntary conversion to a dual primary listing on the Hong Kong Stock Exchange, effective August 28, 2024. This move will see Alibaba listed on both the Hong Kong Stock Exchange and the New York Stock Exchange, with the 'S' marker being removed from its stock short names for both HKD and RMB counters. The conversion does not involve issuing new shares or fundraising. Alibaba is required to comply with all relevant Hong Kong Listing Rules, the Securities and Futures Ordinance (SFO), and the Takeovers Code applicable to a dual primary listed issuer. The company has been granted waivers and exemptions from certain Hong Kong Listing Rules, including the use of U.S. GAAP for financial statements preparation and shareholder protection requirements. Alibaba's American depositary shares will continue to be listed on the NYSE under the symbol BABA. The announcement follows shareholder approval obtained at the annual general meeting held on August 22, 2024. Alibaba's board of directors includes Mr. Joseph C. Tsai as chairman, with Mr. Kevin Jinwei Zhang serving as company secretary.