News Snapshot:
Text size Alibaba , the Chinese e-commerce giant, said its application for a primary listing in Hong Kong has been approved. In a filing, Alibaba (ticker: BABA) said the effective date of converting its primary listing to Hong Kong is expected “prior to the end of 2022.” When complete it will become a dual-primary listed company in both Hong Kong and New York, where its American depositary shares are traded. The move will allow Chinese investors to trade directly in the stock, and Chief Executive Daniel Zhang has said it will foster a wider and more diversified investor base. In...
