BEIJING, Sept 9 (Reuters) - China's Shanghai and
Shenzhen stock exchanges will include Chinese e-commerce giant
Alibaba Group ( BABA ) and some other companies into its Stock
Connect cross-border investment scheme from Tuesday, separate
filings showed on Monday.
This move will integrate Alibaba ( BABA ) into a program linking the
Shenzhen and Shanghai stock exchanges with the Hong Kong stock
exchange.
Alibaba's ( BABA ) shareholders had previously approved the upgrade
of its Hong Kong listing to primary status, effective Aug. 28, a
move that is expected to attract huge investments from mainland
China.
Alibaba ( BABA ) said before that this transition to a dual primary
listing does not involve issuing new shares or raising
additional funds.
In April, China's securities regulator announced plans to
facilitate Hong Kong listings for leading Chinese companies and
expand the Stock Connect scheme to enhance Hong Kong's status as
a "global financial centre".