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AP National Business

Alibaba to seek primary listing in Hong Kong, adding to NYSE

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Published 7:02 PM

By ZEN SOO
Associated Press

HONG KONG (AP) — Alibaba, China’s biggest e-commerce company, plans to apply for a primary listing in Hong Kong. The move would make Alibaba a dual-primary listed company on the New York Stock Exchange and the Hong Kong Stock Exchange. CEO Daniel Zhang said the company was pursuing another primary listing venue to foster a wider, more diverse investor base. Alibaba went public in New York in 2014 and completed a secondary listing in Hong Kong in 2019. Its stock price has plummeted more recently following Beijing’s regulatory crackdown on China’s technology industry. The company said Tuesday it expects to complete the Hong Kong listing this year.

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