Alibaba to seek primary listing in Hong Kong, adding to its New York Stock Exchange listing

Alibaba, China’s biggest e-commerce company, said Tuesday that it would apply for a primary listing in Hong Kong. The listing is expected to be completed by the end of 2022, which would make Alibaba a dual-primary listed company on the New York Stock Exchange and the Hong Kong Stock Exchange. CEO Daniel Zhang said Alibaba was pursuing another primary listing venue to foster a “wider and more diversified investor base.” “Hong Kong and New York are both major global financial centers, with shared characteristics of openness and diversity,” Zhang said in a statement. “Hong Kong is also the launch pad for Alibaba’s globalisation strategy, and we are fully confident in China’s economy and future.” Alibaba went public in New York in September 2014 and completed a secondary listing in Hong Kong in November 2019.