Alibaba plans listing in mainland China: WSJ - Metro US

Alibaba plans listing in mainland China: WSJ

A logo of Alibaba Group is pictured at its headquarters in Hangzhou, Zhejiang province, China, October 14, 2015. REUTERS/Stringer/File photo

(Reuters) – E-commerce giant Alibaba Group Holding Ltd is working on a plan to list on a stock exchange in its home country, China, the Wall Street Journal reported on Thursday, citing people familiar with the matter.

Alibaba is evaluating ways in which its shares could be traded by investors on the mainland, the newspaper reported http://on.wsj.com/2peqrpb, adding that a secondary listing in China could happen as soon as this summer if the country’s securities rules are changed to allow listings of foreign companies.

The news of a probable listing comes a few weeks after it was reported that China may allow its offshore-listed tech giants to sell a form of shares on the mainland.

Alibaba, which is listed on the New York Stock Exchange, is one of the world’s biggest tech companies listed offshore. Others include Baidu Inc , JD.com Inc and Tencent Holdings Ltd <0700.HK>.

Alibaba did not immediately respond to a request for comment.

(Reporting by Aishwarya Venugopal in Bengaluru; Editing by Shounak Dasgupta)

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