Luo Jiarui Suggested That Companies Such As Alibaba Should Be Invited To Appear On The Gem.

A number of Hongkong newspapers reported on Tuesday that there were "Hongkong". Gem Luo Jiarui, who is known as the father, suggested that China's large technology companies including Alibaba (IPO-ALIB.N: market) be invited to list on the gem, so as to invigorate the gem in Hong Kong. 　

Due to differences with the HKEx and other Hongkong regulators on the listing of partner systems, the Alibaba announced at the weekend that it would decide to start listing in the United States. If conditions permit, it will actively participate in the return to the domestic capital market.

Luo Jiarui, former chairman of the Hong Kong stock exchange, chairman of the listing committee and the chairman of the GEM Listing Committee, accepted the visit to Hongkong daily, saying that it was a pity for Alibaba to abandon its listing in Hong Kong, and that Alibaba would regret it sooner or later. He also expressed concern that if Hongkong did not reform the listing rules, the technology sector of Hong Kong stocks would disappear.

　　 Hong Kong The gem was established in 1999. As of the end of February, there were only 195 listed companies with a total market value of HK $169 billion 500 million, compared with 1660 of the main board companies, with a total market value of HK $23 trillion and 680 billion.

Luo Jiarui believes that the market must make clear that Alibaba is not pursuing the "dual equity system" of A and B shares. Partners have the right to nominate directors, shareholders have the right to oppose, and the mechanism does not run counter to the principle of "one vote, one vote". He also said that many of his directors were nominated by him, and shareholders did not agree that they could vote against it.

Luo Jiarui, quoted by Apple Daily in Hongkong, said that the development of Hongkong's growth enterprise market has been stagnant for many years. The most "fatal" phenomenon is that the gem changed its role in 2008. By attracting high Growth Company listing, it became a stepping stone for small and medium enterprises to upgrade the transfer board. The procedures for GEM companies to transfer to the main board were significantly simplified.

Luo Jiarui suggested that the Hong Kong stock exchange could propose a Alibaba listing to the growth enterprise market with a trillion yuan valuation.

He also estimated that Alibaba It may be blocked to go to the US market. Most importantly, Hongkong has always been the main listing place for Chinese enterprises. It is suggested that Alibaba consider the listing of gem, as long as the stock can be traded, there is no difference between the gem and the motherboard. Fund managers will not care about the gem or the motherboard when they see Alibaba listing.