Add as a preferred source on GoogleAlibaba Says 平头哥 Filed Confidentially for Hong Kong Listing
The proposed global offering would include a Hong Kong public sale and an investor placement. It needs Listing Committee approval, a China Securities Regulatory Commission filing and final decisions by both companies.
Alibaba Group said Tuesday that 平头哥 filed confidentially on Sept. 11 to list H shares in Hong Kong, a proposed offering that would keep the chip unit within Alibaba.
The Hong Kong Stock Exchange has confirmed Alibaba may proceed with the proposed spin-off. The planned global offering would combine a public share sale in Hong Kong with a placement to institutional and professional investors.
平头哥 would remain an Alibaba subsidiary after the listing under the proposal. The application seeks approval for its H shares to trade on the exchange’s main board.
The proposed listing is conditional on approval from the exchange’s Listing Committee, completion of a filing with the China Securities Regulatory Commission (CSRC), and final decisions by Alibaba and 平头哥.
John Kim
John Kim reports on the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.