Alibaba Group applied for a primary listing in Hong Kong on Tuesday while keeping its listing in the United States. Chief Executive Daniel Zhang said the dual listing would foster a “wider and more diversified investor base.”
The listing process is expected to be completed by the end of 2022. Since Alibaba’s secondary listing in Hong Kong in 2019, there has been a significant increase in its public float and transaction volume on the HKSE. In H1 this year, the company’s average daily trading volume of shares in Hong Kong was approximately US$0.7 billion (4.7 billion yuan).
In the last fiscal year, Alibaba had 1.3 billion annual consumers, of which over 300 million were overseas. GMV is 8,317 billion yuan, of which the Chinese market accounts for 8 billion yuan, while the international market accounts for US$54 billion.
