Hong Kong’s financial secretary has backed calls for market consultations on the need to change local listing rules after Alibaba, China’s largest ecommerce group, scrapped plans for a $60bn-plus initial public offering in the territory.
John Tsang said he had an “open mind” over whether Hong Kong should change the rules, which prevented Alibaba from listing with the ownership structure it wanted.
It was important to solicit views from participants, Mr Tsang said.
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