Reported about 2 months ago
Alibaba has received shareholder approval to upgrade its Hong Kong listing to primary status, a strategic move aimed at attracting significant investments from mainland China. This change allows Alibaba to connect with the Shenzhen and Shanghai stock exchanges, increasing its competitive edge amid rising market rivals. The upgrade does not involve issuing new shares or raising additional funds, and Alibaba's stock rose 0.7% following the announcement.
Source: YAHOO