In the News: Alibaba's Hong Kong Listing; China Lifts US Chicken Ban; Australia Approves Mengniu Takeover; and Jingye Rescues British Steel

November 18, 2019 | BY

Vincent Chow

Alibaba set for secondary listing in Hong Kong; China lifts four-year U.S. poultry ban; Australia approves Mengniu takeover of infant formula maker; and Jingye Group rescues British Steel from the brink

Alibaba

Alibaba moves ahead with secondary listing plans in Hong Kong

Alibaba has unveiled its plan for a secondary listing in Hong Kong. The New York-listed Chinese e-commerce giant plans to sell 500 million new shares, with 2.5% set aside for the Hong Kong public, according to an SEC filing. The listing will be a boost for Hong Kong, which is undergoing the worst political crisis in its history—one which threatens its future as a global financial hub.

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