Bilibili’s Listing Switch Shows Hunt for China Money
- Hong Kong primary listing offers way to tap mainland capital
- Secondary-listed firms may switch to primary listing on HKEX
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Faced with the risk of losing Wall Street investors, a growing number of Chinese tech companies are seeking an onerous way to tap money back home: a primary listing in Hong Kong.
Bilibili Inc. said this week it will convert its Hong Kong listing to dual-primary status from secondary by early October. The change would enable the firm to be included in the exchange’s Stock Connect program, which gives mainland investors access to trade its shares. The video-streaming firm is joined by peers including online real estate broker KE Holdings Inc. and drugmaker Zai Lab Ltd. in pursuit of the shift.