KC - Bilibili stock jumps as it approves a voluntary conversion to dual-primary listing on the Hong Kong Stock Exchange

Bilibili (NASDAQ:BILI) has approved a motion to pursue the voluntary conversion to dual-primary listing on The Main Board of The Stock Exchange of Hong Kong Limited. The company also authorized it’s senior management to proceed with the necessary procedures to complete the Primary Conversion. The company will then remain as a dual-listing company on the Hong Kong Stock Exchange and Nasdaq, and its Class Z ordinary shares and American Depositary Shares will continue to be traded in both stock exchanges and remain mutually fungible. The Primary Conversion is conditional upon further approval of the Board and regulatory approvals. Shares up 32% premarket. Kingsoft Cloud Holdings Limited (NASDAQ:KC) is also exploring a dual listing of it's ordinary shares on the the Hong Kong Stock Exchange. Shares up 32% premarket.

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Bilibili stock jumps as it approves a voluntary conversion to dual-primary listing on the Hong Kong Stock Exchange