On August 23rd, Alibaba Group announced that it will add Hong Kong as its main listing location and will primarily list on the main board of the Hong Kong Stock Exchange on August 28th, becoming a company with dual main listings on the Hong Kong Stock Exchange and the New York Stock Exchange.
Data shows that since Alibaba's second listing in Hong Kong in 2019, most of its publicly traded shares have been transferred to Hong Kong. In terms of market value and trading volume, Alibaba has consistently ranked among the top three Hong Kong stocks, making its main listing a natural occurrence. In July 2022, Alibaba submitted an application for a major listing in Hong Kong. The dual major listings in Hong Kong and New York will further expand the investor base from mainland China and other parts of Asia.
The announcement also shows that Alibaba's dual primary listing in Hong Kong does not involve new stock issuance or financing.
According to institutional research reports, the market widely expects Alibaba to meet the conditions for inclusion in the Hong Kong Stock Connect after completing its dual major listing in Hong Kong, and is expected to be included in the Hong Kong Stock Connect as early as September.