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Alibaba Seeks Primary Hong Kong Listing as US Exit Looms

  • It’s applying for primary listing status in Hong Kong
  • The move could herald an exodus of US-listed Chinese firms
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Alibaba to Apply for Primary Listing in Hong Kong
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Alibaba Group Holding Ltd. will seek a primary listing in Hong Kong, entrenching the financial hub’s status as an alternative to US markets ahead of a potential exodus of Chinese companies from New York.

The switch could provide a template for the roughly 200 US-traded Chinese companies from JD.com Inc. to Baidu Inc. that face delisting should Washington and Beijing fail to agree on allowing US regulators to review their financial audits. It also paves the way for investors in China to directly buy shares of the country’s most prominent e-commerce company for the first time.