Twin-Track Trend
Aug 06, 2020
3 minutes
By Li Xiaoyang
Copyedited by Sudeshna Sarkar
On July 20, Ant Group, the fintech arm of Alibaba established in 2014, announced it would launch initial public offerings (IPOs) both on Hong Kong Stock Exchange and the Science and Technology Innovation Board of Shanghai Stock Exchange (SSE), popularly known as STAR Market, consolidating the trend of dual listing among Chinese companies.
Four days earlier, chipmaker Semi-conductor Manufacturing International Corp. (SMIC) got listed on STAR Market, following an earlier debut in Hong Kong. Electric vehicle maker Hozon Auto has also announced its plan to list on STAR Market
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