Alibaba May List in Hong Kong

CBJ — Alibaba Group Holding founder Jack Ma says his company will seriously consider listing in Hong Kong. If the large Chinese company were to do so it would provide a monumental boost to the financial hub which is preparing to allow dual-class share listings.

Ma made the comments at an event on Monday. An Alibaba spokeswoman said there were no further details available on what any Hong Kong listing plan could involve.

Alibaba held its record $25 billion public float in New York in 2014 after Hong Kong, its favored venue, refused to accept its governance structure where a self-selecting group of senior managers control the majority of board appointments.

Hong Kong is now set to allow dual-class shares under rule changes to be proposed by the city’s stock exchange as it raises the stakes in its battle against New York for blockbuster Chinese initial public offerings.

@CanBizJournal

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