Alibaba: has been preparing for a primary listing in Hong Kong and expects to complete the conversion by the end of August

According to news from this site on May 14, today Alibaba Group released its fourth fiscal quarter (quarter ending in March 2024) and full-year results for fiscal year 2024. The company reported in its financial report The progress of the voluntary conversion to dual primary listing on the Hong Kong Stock Exchange was disclosed.

Alibaba said that The company has been preparing for the company's primary listing in Hong Kong and currently expects to complete the conversion by the end of August 2024.

noted that Alibaba Group has granted permission to the Hong Kong Stock Exchange to submit an application and intends to list in July 2022. The board of directors has authorized the group's management to submit an application to the Stock Exchange of Hong Kong to add Hong Kong as a primary listing place. After completing the approval process on the Hong Kong Stock Exchange, Alibaba will be dual-listed on the Main Board of the Hong Kong Stock Exchange and the New York Stock Exchange.

Zhang Yong, then chairman and CEO of Alibaba Group, once said that the purpose of this decision was to attract a wider range of diversified investors, especially Alibaba digital ecosystem participants in China and other Asia-Pacific regions. Can share in Alibaba’s growth and future.

The above is the detailed content of Alibaba: has been preparing for a primary listing in Hong Kong and expects to complete the conversion by the end of August. For more information, please follow other related articles on the PHP Chinese website!