Date
21 August 2018

Alibaba still keen on HK listing, HKEJ says

Alibaba Group may not have given up hope for a listing in Hong Kong despite talks breaking down last week with Hong Kong Exchanges and Clearing Ltd. (HKEx), the Hong Kong Economic Journal reported Thursday. Sources said Alibaba chairman Jack Ma will arrive in Hong Kong on Thursday to realign the company’s communication strategies and improve its public image, but it is very likely that Alibaba will not be able to list by the end of this year. Ma insisted on retaining Alibaba’s corporate partnership structure after listing in Hong Kong, a move that would allow his management team to nominate more than half of the board of directors and retain control of the company. HKEx rejected the proposal, and Alibaba was reportedly seeking to list in the United States instead, the report said.

– Contact HKEJ at [email protected]

EL/AC/SK

 

EJI Weekly Newsletter

Please click here to unsubscribe