Bloomberg Law
Aug. 2, 2022, 6:07 AM

Why a Primary Listing in Hong Kong Matters for Alibaba, BiliBili

Filipe Pacheco
Filipe Pacheco
Bloomberg News

The decision by Alibaba Group Holding Ltd. to change its listing status in Hong Kong to “primary” from “secondary” is a move similar to that taken by other companies in the Asian hub recently and might spur others to do the same. What are reasons for such a switch?

1. What is a primary listing?

It refers to the main stock exchange where a public company’s shares are traded. In order to list, a firm has to fulfill requirements of that market. Secondary listings, often subject to less-stringent regulation, offer a separate trading venue that may increase liquidity in trading ...