>>REAL-TIME UPDATES IN THE WIRE. CLICK HERE<<<
Chinese cloud service provider Kingsoft Cloud Holdings Ltd said on Wednesday that it has filed for dual primary listing of ordinary shares on the Main Board of the Hong Kong Stock Exchange.
The Company expects to be dual-listed on the Nasdaq and the Hong Kong Stock Exchange upon the completion of the proposed listing, it said.
China International Capital Corporation, J.P.Morgan and UBS are joint sponsor for the listing.
Notably. e-commerce giant Alibaba Group Holding Ltd said on Tuesday that it would apply for a primary listing in Hong Kong and expects the listing to be completed by the end of 2022, making it a dual primary listed company on the Hong Kong Stock Exchange and the New York Stock Exchange.
Alibaba CEO Daniel Zhang said in a statement that the company would pursue the dual listing to foster a “wider and more diversified investor base.” “Hong Kong is also the launch pad for Alibaba’s globalization strategy, and we are fully confident in China’s economy and future,” Zhang said.