23 August 2019

Alibaba poised to opt for US listing, FT says

Alibaba is “95 per cent certain” to choose New York over Hong Kong for its initial public offering, the Financial Times reported Thursday, citing people close to the process. The company is no longer “even engaged” with the Hong Kong exchange, according to one person familiar with the matter, while another said a New York listing was now “95 per cent certain”, the report said. Alibaba had planned to list in Hong Kong but fell foul of the city’s listing rules due to its proposal to control appointments to its board, the report said. 

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