18 August 2019

Jack Ma rules out backdoor HK listing for Alibaba, paper says

Alibaba Group chairman Jack Ma has ruled out a backdoor listing in Hong Kong, despite holding stakes in CITIC 21CN (00241.HK) and ChinaVision Media Group Ltd. (01060.HK), Beijing Business Today reported Wednesday. Alibaba said Sunday that it would launch its initial public offering in the United States. Addressing a forum at Peking University in Beijing Tuesday, Ma also said he would like more of the younger generation’s best and brightest to join Alibaba but he also urged students to be optimistic about setting up their own businesses, the report said.

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