Alibaba Changes Hong Kong Listing Status To Primary To Tap Chinese Investors

GREG BAKER/AFP via Getty ImagesChinese e-commerce giant Alibaba Group Holding is converting its listing in Hong Kong to primary status from secondary on August 28, setting the stage for the company to gain wider access to investors on the mainland.Alibaba announced on Friday its shareholders have approved the long-awaited conversion, which will add to its current primary listing in New York. The move paves the way for Alibaba to join Hong Kong’s Stock Connect scheme, which will allow qualified mainland Chin ...