Chinese video platform Bilibili has approved a motion on Wednesday to pursue the voluntary conversion to a dual-primary listing in Hong Kong. After the conversion, the company will remain as a dual-listed company on Nasdaq and the Hong Kong stock exchange. Hong Kong has become an increasingly popular option for US-listed Chinese tech stocks, considering international relations and regulatory uncertainty. Additionally, Bilibili could gain further funding through Hong Kong’s stock connection with mainland Chinese investors, according to Chinese financial media CLS. On Thursday, the company’s stock price on Nasdaq soared 47.56% as Chinese tech stocks recovered some ground after Beijing pledged to support economic stability the day before. [Bilibili, press release]
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