Xavier Kong · · 1 min readAlibaba will work to maintain US, HK stock after delisting risk status
Chinese ecommerce giant Alibaba says it will work to maintain its listed status in the US and Hong Kong after being added to the US Securities and Exchange Commission’s list of companies at risk of delisting, CNBC reported.
In a company statement, Alibaba said it will comply with any applicable laws and work to stay listed on both the New York and Hong Kong stock exchanges.
The company was placed on the delisting status after it failed to meet auditing requirements, as its audits for 2021 could not be fully reviewed by the US Public Company Accounting Oversight Board.
This comes after the company announced last week that it will seek a dual primary listing in Hong Kong, and it expects the process to conclude by the end of the year. Alibaba currently has a secondary listing on the Hong Kong Stock Exchange.
See also: Alibaba’s financial health in 5 charts
Editing by Miguel Cordon and Lorenzo Kyle Subido
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