Alibaba to upgrade Hong Kong listing in a bid to attract Chinese investment

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Shareholders of Chinese e-commerce giant Alibaba have approved a plan to upgrade its Hong Kong listing to primary status, the company said on Friday.

The conversion to dual primary listing does not involve any issue of new shares or even raising of funds by the company, Alibaba said.Costfoto | Nurphoto | Getty Images

The Jack Ma-founded firm had originally proposed the idea a couple of years ago at a time when there was heightened geopolitical tensions between China and the U.S.

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