The co-founder of Alibaba, Jack Ma, has said that he is seriously considering listing the Chinese online retail giant in Hong Kong. Currently the city state is preparing regulations which will allow the public listing of firms with dual-class shares.
In 2014 after Hong Kong raised concerns over the governance structure of the Chinese e-commerce leader, Alibaba was publicly floated on the New York Stock Exchange. Under the governance structure, a group of senior executives of Alibaba have the power to make the board appointments.
As it seeks to compete with New York for initial public offerings from China, Hong Kong is set to make rule changes that are allow dual-class shares. According to analysts a Hong Kong listing by Alibaba would assist in driving more funds from mainland China to the city state. It could also have the effect of convincing other Chinese companies especially those in the tech sector, to list in Hong Kong.
“If the trading volume in Hong Kong is even better than that in the U.S., it will send out a signal to other new economy new listings that Hong Kong is a much better place for a listing,” Steven Leung, a sales director at Hong Kong’s UOB Kay Hian, said.
Bluetooth mesh networking
The development coincides with the Chinese online retail giant announcing that it’s A.I. Labs division will partner with MediaTek of Taiwan in an IoT initiative aimed at developing smart home technologies. Under the partnership the two firms will develop one unified connectivity protocol and make it easier for home owners to control all their smart home devices from a single portal as opposed to a multitude of passwords and apps. The partnership was announced during the 2018 Consumer Electronics Show being held in Las Vegas.
One of the first products to come out of the partnership will be a Smartmesh connectivity solution which will offer support to the mesh networking technology of Bluetooth which will comply with the standards as set by the governing body, Bluetooth Special Interest Group. With mesh networking it will be possible to extend Bluetooth’s range since devices will be allowed to send as well as receive data from various neighboring devices.
If all goes according to plan Alibaba will become the first company in China to bring to the market on a commercial scale Bluetooth mesh technology. The technology will allow consumers to connect instantly to multiple devices all at the same time.