Alibaba croup holding's decision to conduct its huge IPO in the US has dashed hopes that Hong Kong might become a thriving listing hub for internet stocks. A US$15bn IPO from the Chinese e-commerce giant in Hong Kong could have stemmed the flow of Chinese companies rushing to list in the US, and been a magnet to pull in other similar stocks from the region. Alibaba's size and weighting in the Hang Seng Index would have forced technology analysts and investors to pay more attention to the Stock Exchange of Hong Kong and that could also have brought more attention to smaller companies listed on the bourse. Instead, Alibaba chose the US, which has been a hotbed of equity raisings for Chinese internet companies since the middle of last year.
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