Ali applies for the main listing of Hong Kong and New York?Why does Ali, who has already been on the market, do this?

Recently, the listing of Chinese listed companies has almost become a normal state, and even companies such as Weilai Automobile have listed on the three places. Many people are surprised by what Alibaba is going to apply for the two major listing of Hong Kong and New York. What is his purpose?

I. Alibaba's application for the two major listing of Hong Kong and New York?

According to Zhongxin Jingwei, on July 26, Alibaba Group issued an announcement saying that the board of directors has authorized the group to submit an application to the Hong Kong Stock Exchange and will add Hong Kong to the double major listing place. After the Hong Kong Stock Exchange completed the audit process, Ali will be listed on the main board of the Hong Kong Stock Exchange and the New York Stock Exchange.

The announcement shows that the relevant process is expected to be completed by the end of 2022. After that, Ali's depository stocks listed in the United States and ordinary shares listed in Hong Kong can continue to be converted. Investors can continue to choose to hold Ali shares in one form. Zhang Yong, chairman and chief executive officer of Ali Group's board of directors, said: We are full of confidence in China's economy and future. Hope to make more extensive and diverse investors who can share Ali's growth and future.

According to Yangguang.com, Alibaba and Hong Kong have a long history. Hong Kong is the starting point of Alibaba from China to the world. Since 2007, Alibaba has used Hong Kong as its first choice. In 2007, Alibaba's B2B business was listed on the Hong Kong Stock Exchange. In 2014, when Alibaba planned to go public as a whole, the first consideration of the destination was also the Hong Kong Stock Exchange, and related road shows were carried out. However, due to the restrictions of relevant regulations at the time, Ali eventually transferred to the New York Stock Exchange.

In the recent period, the double main listing has become the mainstream model of China stock market returning to Hong Kong. As of now, nine of the nine companies including Zhihu, Shell, Xiaopeng, and ideal have been listed in the United States and Hong Kong. As a high -quality leading company with a market value of HK $ 2 trillion in circulation, Alibaba has a strong iconic significance for the double listing of this return return to Hong Kong.

2. Why do Ali, who has already been listed, do this more?

To be honest, seeing Alibaba's application for the double listing in Hong Kong at this time is actually an unexpected thing. What should we think about this matter?

First of all, for the current entire market, the double main listing is becoming the main model of the current listing of China stocks. The core reason is accompanied by the development of the capital market, especially the current policies and external environment of the US capital market. For some Chinese stock companies, choosing dual major listing will become an inevitable development trend. On the entire market, the double major listing can help China stock companies have more market choice space, and can also make the main enterprises with dual major listing will not be greatly affected, so we see more and more Zhongzhong. When the stock market returns to Hong Kong, the two major listing methods will be used. Alibaba belongs to a relatively earlier listed company returning to Hong Kong's capital market, so there was no double major listing at the time. At this time, Alibaba can be said to be the process before the supplement, which is a way to make up lessons.

Secondly, what we can see is that Alibaba adopts this two major ways of listing, which can effectively enhance our influence in the market, and the Hong Kong capital market is also a relatively open capital market. The main form of listing can further enhance Alibaba's liquidity in the capital market, thereby helping Hong Kong investors better understand Alibaba and provide more possibilities for Alibaba's future financing of Eurasia.

Third, what we can see is that for the current capital market, the Hong Kong capital market is undoubtedly stronger for China -stock companies. The original listing model is not applicable for Alibaba. Especially for investors in the Hong Kong capital market, there will be many concerns. The use of dual major listing methods can allow the Hong Kong capital market to dispel worries, thereby further promoting Alibaba's better development.

Fourth, from the perspective of the development of long -term capital markets, there may be more models that have been converted into dual -listing in China that have been listed in Hong Kong in the future. It has become an important way for China -stock listing, so for the current entire capital market, we must also deeply understand the changes in the current capital market.

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