Alibaba plans listing in mainland China: WSJ


(Reuters) – E-commerce giant Alibaba Group Holding Ltd (BABA.N) is working on a plan to list on a stock exchange in its home country, China, the Wall Street Journal reported on Thursday, citing people familiar with the matter. A logo of Alibaba Group is pictured at its headquarters in Hangzhou, Zhejiang province, China, October 14, 2015. REUTERS/Stringer/File photo Alibaba is evaluating ways in which its shares could be traded by investors on the mainland, the newspaper reported, adding that a secondary listing in China could happen as soon as this summer if the country’s securities rules are changed to allow listings of foreign companies. “Since our IPO in the US, we have stated that if regulations allow, we would consider a listing in China,” an Alibaba spokesperson told Reuters. The news of a probable listing comes a few weeks after it was reported that China may allow its offshore-listed tech giants to sell a form of shares on the mainland. Alibaba, which is listed on the New York Stock Exchange, is one of the world’s biggest tech companies listed offshore. Others include Baidu Inc (BIDU.O), Inc (JD.O) and Tencent Holdings Ltd (0700.HK). Reporting by Aishwarya Venugopal in Bengaluru; Editing by Shounak Dasgupta
Source: Reuters