Alibaba to upgrade Hong Kong listing amid profit drop …C0NTINUE READING HERE >>>
Shares in Alibaba have plunged since China began a crackdown on the tech sector four years ago.
Photo: ALAIN JOCARD / AFP
Source: AFP
Chinese e-commerce giant Alibaba said Friday it would upgrade its Hong Kong-listed shares to primary status, opening it up to China’s huge army of investors that could potentially rake in billions of dollars for the firm.
The decision by shareholders during its annual general meeting Thursday will provide a much-needed boost to the firm, which has…
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