Morgan Stanley issued a research report, saying that BABA-SW (09988.HK) +1.750 (+2.336%) Short selling $132.58M; Ratio 2.353% expected to have its dual primary listing to be completed by the end of August. The broker foresaw the likelihood of the group joining the Southbound Stock Connect to increase notably thereafter, with the earliest inclusion expected in September. The broker expected some capital inflows, but not tremendously.
Morgan Stanley assumed that BABA-SW's weighted voting rights (WVR) should no longer be an obstacle. This was because when HKEX relaxed its secondary listing requirements, it already allowed American Depositary Receipts (ADRs) with dual primary listing status to retain WVR or variable interest entity structures.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-06-03 16:25.)
