In response to Alibaba’s delisting on NYSE, Temasek Holdings, Matthews Asia and Baillie Gifford converted billions of dollars of ADR into Hong Kong stocks

Alibaba (09988), several of its largest investors, have converted billions of dollars worth of Alibaba’s US listed pre deposited securities (ADRs) into Hong Kong listed shares in response to the potential risk of US sanctions and forcing China capital shares to delist.

According to the report, Temasek has converted half of its 12.1 million shares (worth about $3 billion) of Alibaba shares from the United States into Hong Kong listed shares.

Matthews Asia sold nearly three-quarters of Alibaba’s shares in the US in the second quarter, most of which were converted to holding H shares in Hong Kong or flowing to its funds.

In addition, Baillie Gifford transferred 10.4 million shares (worth about $2.67 billion) of Alibaba ADR into Hong Kong listed shares in the second quarter, equivalent to about a fifth of its shares.

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