Alibaba (9988) issued an announcement announcing that on 28 August this year, the conversion of a voluntary secondary listing of a company to a primary listing on the Hong Kong Stock Exchange will take effect and the company will become a dual primary listing in Hong Kong and New York.
Alibaba shares rose 0.5 percent to 82.1 yuan.
The “S” will be removed from the existing stock market in Alibaba, namely “ALIBABA-SW”, and its renminbi counter, “Alibaba-swr”, with effect from the same day. The announcement also said that the voluntary conversion to a dual primary listing did not involve an IPO and/or financing.
Alibaba Kong will be eligible for inclusion after the addition of Hong Kong as the main listing venue, and is expected to do so in early September.