The Hong Kong Stock Exchange won’t allow e-commerce giant Alibaba Group to employ a dual-share structure in a listing, leading to threats from the company that it will take its proposed IPO to New York instead, South China Morning Post reported, citing anonymous sources from HKEx. US listing rules allow a dual-share structure that could grant founder Jack Ma and Alibaba management the control they crave. Hong Kong rules do not. Sources at Alibaba said the company had not requested a dual-share structure, only a listing that would leave all shareholders’ rights intact.
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