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Alibaba says Hong Kong listing upgrade coming by August

HONG KONG -- Chinese e-commerce group Alibaba Group Holding said on Tuesday that the long-delayed conversion of its listing in Hong Kong to primary status will be completed by the end of August this year.

The company announced in July 2022 that it was applying for a primary listing in Hong Kong in addition to its New York listing but said four months later that the conversion would not be completed as originally scheduled. The shift is meant to qualify the company for inclusion in Hong Kong's Stock Connect scheme that allows investors from mainland China to trade Hong Kong-listed stocks.