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Alibaba primary listing may lure $16 billion from China

July 28, 2022
Source: gulftime.ae gulftime.ae
News Snapshot:
Bloomberg Alibaba Group Holding Ltd may attract at least $16 billion of Chinese money by shifting to a primary listing in Hong Kong, strategists say, getting a much-needed boost as its stock struggles to bottom out. The move paves the way for the e-commerce giant to be included in the city’s trading links with mainland bourses, allowing an influx of new capital. Chinese investors hold around 7% stake of firms included in the links, suggesting an inflow of $16 billion into Alibaba over the next few years, according to Goldman Sachs Group Inc. Sanford C. Bernstein estimates $21 billion. Such...
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