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Alibaba Abandons Hong Kong IPO Plans to Pursue US Listing

Alibaba Abandons Hong Kong IPO Plans to Pursue US Listing

Alibaba abandons Hong Kong IPO plans to pursue a US listing. Find the best immigration news on the Worldway Immigration official website.

世贸通5800 reads

    Hong Kong Capital Investment Entrant Scheme focus Hong Kong news update: Yesterday afternoon, Alibaba officially announced via its Weibo account that it is abandoning its Hong Kong IPO plans to initiate the process for a listing in the United States. Netizens commented that Hangzhou housing prices are set to rise.

 

Alibaba Abandons Hong Kong IPO Plans to Pursue US Listing

 

At 2:00 PM yesterday, Alibaba's official Sina Weibo account released the announcement. As of 11:00 PM last night, the post had received nearly 5,600 views and over 1,600 comments. Interestingly, some netizens commented that Hangzhou is about to see a surge of new millionaires, and that Hangzhou housing prices are likely to rise.

Previously, Alibaba had been pushing for a listing in Hong Kong. However, the Hong Kong market's adherence to the "one share, one vote" principle could not accommodate the partnership structure proposed by Alibaba, ultimately forcing the company to abandon the Hong Kong market. In the announcement, Alibaba expressed its gratitude to Hong Kong.

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