Strike one: Amazon rival's audits apparently haven't satisfied the SEC
Companies on the provisional HFCAA list have 15 business days to dispute addition to the list. Along with Alibaba's inclusion last week, pet company Boqii, Cheetah Mobile, ecommerce platform MOGU, manufacturing business Highway Holdings and logistics company Novagant Corp – all from China or Hong Kong – were added.expand its presence on the Hong Kong Stock Exchange
, where it currently maintains a secondary listing . Once those plans are complete, Alibaba would have dual-primary listings on HKEX and NYSE. The Alibaba shares currently available for purchase on the NYSE are what's called"American Depositary Shares," or ADSs, that are held by US financial institutions and act as an equity share of the company.
"ADSs listed in the United States and the shares listed in Hong Kong are fungible, and investors can continue to choose to hold their shares in the form of ADSs traded on the New York Stock Exchange or ordinary shares traded on the Hong Kong Stock Exchange," Alibaba said. ®
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