Alibaba receives shareholder approval for Hong Kong listing upgrade to primary status on August 28.

E-commerce giant Alibaba has received shareholder approval to upgrade its Hong Kong listing to primary status. This move, set for August 28, will make Alibaba a dual primary listed company on both Hong Kong and New York bourses. The upgrade will facilitate increased access for local investors, boosting Alibaba's financial prospects. The primary listing in Hong Kong will enable Chinese mainland investors to trade in Alibaba shares via the stock connect mechanism linking the Shanghai, Shenzhen, and Hong Kong bourses, and infuse new liquidity into the Hong Kong stock market.

August 23, 2024
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