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Alibaba Gives Up Hong Kong Listing

Alibaba Group has publicly responded to hot argument about its IPO. CEO Jonathan Lu said that the Chinese top e-commerce service provider will not select Hong Kong as its listing location.

Since privatization of its subsidiary in 2012, Alibaba has been under spotlight because of its intention to carry out an overall listing.

Lu noted that Hong Kong bourse still needs time for the innovation of its listing policy. That is why Alibaba decided to give up a local listing.

Alibaba has contacted with the Hong Kong bourse and has not submitted formal application demanding for dual class equity structure to challenge existing local listing