Among China’s biggest new economy names, Alibaba was touted as the secondary listing that would blow the doors off the Hong Kong bourse to allow China’s other tech giants the Baidus, the JD.coms and the Neteases to rush in.
Certainly its mega-listing in late 2019 went a long way to rectifying the IPO loss of five years earlier and restoring confidence in the Hong Kong exchange as the rightful home to China’s tech giants.
Particularly telling was the fact that a cash rich Alibaba did not need to raise additional funding for operational reasons. The secondary listing was seen by the market as something of a...
¬ Haymarket Media Limited. All rights reserved.
