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Alibaba founder Ma says will 'seriously consider' Hong Kong listing


SHANGHAI/(Reuters) - Group Holding Ltd will "seriously consider" in Hong Kong, founder said, marking a potential boon for the financial hub which recently decided to move towards allowing dual-class share listings.

Ma made the comments at an event in the city on Monday in response to remarks made by about how she hoped would consider returning to to list, an said.

"Daring to speak like this marks a strong commitment so we will definitely seriously consider the market," Ma said in response to Lam's speech, according to a transcript provided by

The said there were no further details available on what any plan could involve.

held its record $25 billion public float in in 2014 after Hong Kong, its favoured venue, refused to accept its governance structure where a group of senior managers control the majority of board appointments.

But is now set to allow dual-class shares under rule changes to be proposed by the city's stock exchange as it raises the stakes in its battle against for blockbuster Chinese initial public offerings (IPOs).

(HKEX) <0388.HK>, the city's exchange operator, said in December that it had begun drafting specific rule changes that will be put up for a formal public consultation in the first three months of 2018.

Under the planned rule changes, "innovative" Chinese companies with a market capitalisation over HK$10 billion and a primary on the Stock Exchange, Nasdaq or the would be able to seek a secondary in The has not yet defined what "innovative" is.

"We are also creating a new route to secondary listings in to attract companies from emerging and innovative sectors. We are aware that many successful new economy companies already listed in the US and UK would benefit from these reforms," wrote Charles Li, of HKEX, in a blog post last month when the proposed changes were put forward.

Just 3 per cent of listings in the past decade, by market value, have been so-called "new economy" companies, compared with 47 per cent for the Stock Exchange, according to a discussion paper published by the in June.

trading volumes for a household name such as would be expected to grow significantly over time, according to bankers.

If more than 55 percent of a secondary listing's trading took place in over a year, the exchange said in its proposed rules that it would look to upgrade the company's to consider it a dual-with its other primary exchange.

(Reporting by in and Jennifer Hughes in HONG KONG; Additional Reporting by in HONG KONG; Editing by and Muralikumar Anantharaman)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, January 09 2018. 13:21 IST