China's Internet giant Alibaba will complete the main listing in Hong Kong next week, becoming a company that is two major listed in Hong Kong and New York.
The analysis of scholars interviewees, Ali borrowed the "Dongfeng" of China's official promoting the opening of the financial market and completed the "status conversion" listing on the market, which can not only make mainland investors directly invest in Ali more flexible and convenient, but also in the future.There is a way to retreat when you are in evil, and he seamlessly return to Hong Kong.
Alibaba Group issued an announcement on Friday (August 23) stating that it will be listed on the main board of the Hong Kong Stock Exchange on August 28. The voluntary converting to double listing this time does not involve the company's new shares issuance or financingEssence
Alibaba's first public offering (IPO) on the New York Stock Exchange in 2014, and returned to Hong Kong in 2019 to complete the second listing.Although Alibaba has always ranked among the top three in Hong Kong stocks in terms of market value and transaction volume, because the main listings are New York, Alibaba stocks purchased in Hong Kong are only US stocks for US stocks and will fluctuate with US stock prices.
Complete the dual main listing, which means that both places are the main listings. The company must meet the requirements of both sides of exchanges, but at the same time, they have the opportunity to expose more potential investors and increase stock liquidity.
According to market analysis, Alibaba can be included in the Hong Kong Stock Connect in early September after completing the main listing in Hong Kong, which means that Chinese investors will be able to directly purchase Alibaba shares through the Hong Kong Stock Connect.In the month, it brought Alibaba's US $ 12 billion (S $ 15.7 billion) of funds.
Fu Fangjian, an associate professor of Li Guangqian Business School of Singapore Management University, analyzed during an interview with Lianhe Morning Post that Alibaba from the second listing to the double major listing, which is equivalent to a small step forward. At present, investors holding Alibaba stockThe impact is not great.
However, Fu Fangjian believes that after a large number of Chinese investors buy and sell Alibaba shares through the Hong Kong Stock Connect, it will help Alibaba's stock price rise, and then get better prices in Alibaba in future financing.
Alibaba first proposed to apply for the main listing in Hong Kong in July 2022, but experienced a wave of three in the middle. It was not until May of this year that the matter was mentioned again in the performance report.
In the context of the low stock market and the evacuation of foreign investment, Chinese officials have repeatedly proposed to strengthen the opening of the financial market this year, emphasizing the transparency, stability and expected to enhance the open policy of the financial sector.
Fu Fangjian said that after the official releases the signal, there are some benchmarking companies to do some actions. Alibaba is likely to take advantage of the policy of the policy to complete the main listing in Hong Kong.The advantage of coming is real. "
Scholars: China Stocks Return to Hong Kong List and Stay Retirement
In recent years, the double main listing has become the mainstream model of returning to Hong Kong in the US listing in the United States. Company currently adopted by this model includes Meituan, Xiaomi, ideal car and Xiaopeng Automobile.
Fu Fangjian said that although some US capital made in the process of listed in the United States to go public in the United States, the U.S. government and the political vision of competition between China and the United States will have the mentality of Chinese companies to "take advantage of the United States" mentality., Strengthen the approval and supervision of the listing process of China Stocks.
He said: "In case Sino -US relations are worse in the future, when the United States has introduced more unfriendly measures to Chinese technology companies, the two major listing can be seamlessly transferred back to Hong Kong, and continued to absorb in Hong Kong and continue to absorb in Hong Kong.International Capital.
