HONG KONG: Hong Kong is set to see billions of dollars flowing in from the mainland with more Chinese companies expected to upgrade their listings in the city to tap into a bigger pool of capital amid the looming threat of delistings in the United States.
The main advantage for the companies upgrading their listings in Hong Kong to dual primary is that they can apply to be included in Stock Connect, a link to the city's bourse which allows mainland Chinese investors to buy stocks more easily. "It could be a good example when you have the giant converting from a secondary listing to a dual primary for others to follow suit," said Stephanie Tang, a partner at law firm Hogan Lovells.
Goldman Sachs said in a report southbound buying could reach almost US$30 billion if Alibaba and 14 other secondary listed companies in Hong Kong converted to a dual primary listing. Increased numbers of dual primary listings is unlikely to deliver capital markets investment bankers a windfall, though, with most of the prospective candidates not needing to issue new shares.
Source: News Formal (newsformal.com)
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Hong Kong students must learn China security law to graduateIsn't this exactly what Ukraine did for 'OUR Democracy' in the West? And isn't it what the Dems are trying to do by getting Trump out of the way and controlling the Media' 'purged the political opposition and led to the closure of the city's biggest pro-democracy media outlets.' I would settle for the Pledge of Allegiance once daily in our schools k-12.
Source: STForeignDesk - 🏆 4. / 71 Read more »
China's Alibaba to apply for primary listing in Hong KongSHANGHAI: Chinese e-commerce giant Alibaba Group Holding said on Tuesday (Jun 26) that it would apply for a primary listing in Hong Kong. The company expects the listing to be completed by the end of 2022, making it a dual primary listed company on HKEX and NYSE. In a statement, Alibaba CEO Danie
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Hong Kong says it may have to downgrade annual growth forecast: Report
Source: STForeignDesk - 🏆 4. / 71 Read more »
China's Alibaba to apply for primary listing in Hong KongSHANGHAI : Chinese e-commerce giant Alibaba Group Holding Ltd said on Tuesday that it would apply for a primary listing in Hong Kong. The company added it expects the listing to be completed by the end of 2022, making it a dual primary listed company on HKEX and NYSE.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Hong Kong says may have to downgrade annual growth forecast in August - SCMPHong Kong may have to downgrade its annual growth forecast in August for the second time in three months, the city's financial secretary told the South China Morning Post, pointing to the weak recovery of the economy from the COVID-19 pandemic.Paul Chan Mo-po told SCMP in an interview on Monday that there
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »