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Alibaba Pops 6% After Announcing Plans for a Dual Primary Listing in Hong Kong – Arise News

Source: arise.tv arise.tv
News Snapshot:

Alibaba’s Hong Kong-listed stock jumped as much as 6.5% on Tuesday after the Chinese tech giant said it will apply for a dual primary listing in Hong Kong, before paring some gains. The stock closed 4.82% higher by the end of the trading day. The tech giant’s shares are already traded on both U.S. and Hong Kong exchanges, but the current listing in Hong Kong is a secondary one. The primary listing process in Hong Kong is expected to be completed before the end of 2022, the company said in a press release. The Hong Kong Exchange recently changed rules,…

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