Alibaba hopes to continue listing in New York amid disputes with regulators
Alibaba said on Monday that after the Chinese e-commerce giant was placed on the watch list in the United States, it was trying to maintain its listing on the New York Stock Exchange while listing in Hong Kong.
Alibaba shares rose 1.09% on Monday after falling 11.1% in New York on Friday.
Alibaba shares rose 1.09% on Monday after falling 11.1% in New York on Friday.
Alibaba said that its inclusion in the list means that it is now considered to be in the first year of "no inspection".
"Alibaba will continue to pay attention to market development, comply with applicable laws and regulations, and strive to maintain its listing status on the New York Stock Exchange and Hong Kong Stock Exchange," Alibaba said in a statement.
"Alibaba will continue to pay attention to market development, comply with applicable laws and regulations, and strive to maintain its listing status on the New York Stock Exchange and Hong Kong Stock Exchange," Alibaba said in a statement.
U.S. regulations allow Chinese companies to meet audit requirements by the beginning of 2024, but Congress is considering accelerating the deadline to 2023. China said it was committed to reaching an agreement to resolve the dispute.
Alibaba is fighting the threat of delisting (clink here) and the prospect of its founder Jack Ma giving up control of ant group(clink here), a subsidiary of the company.
$BABA-SW (09988.HK)$ $Alibaba (BABA.US)$ $China Concept Stocks (BK2517)$ $Hundsun Technologies Inc. (600570.SH)$ $Hang Seng TECH Index (800700.HK)$
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