Alibaba (BABA) has released an update.
Alibaba Group Holding Limited is set to become dual primary listed on the Hong Kong Stock Exchange and the NYSE on August 28, 2024, a move that will require adherence to all applicable Hong Kong listing rules without the need for issuing new shares. The company has been granted waivers for certain regulations, allowing the continued use of U.S. GAAP for financial reporting. Investors should note the shift from a weighted voting rights structure to a dual primary listed company, which may impact shareholder dynamics and compliance obligations.
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