Alibaba Pictures to delist from Singapore stock exchange

Voting rights and entitlement to dividends of the CDP Depositors will not be affected.

Alibaba Pictures Group Limited, the motion pictures wing of Alibaba, has sought and received confirmation of a voluntary delisting from the Singapore Exchange Securities Trading Limited (SGX-ST), the exchange has revealed. With this delisting, Alibaba Pictures will only trade shares on the Hong Kong stock exchange.

While providing a rationale for this step, the board said, “The company is of the view that The Stock Exchange of Hong Kong Limited is more geographically aligned with the business operations of the company. Maintaining a single primary listing on the stock exchange would allow the company to focus its efforts and resources on its business operations in China.” It has also pointed out issues with compliance obligations and low trading volumes in Singapore.

SGX-ST posed no objection to the proposed delisting provided that the company followed certain conditions. The company reassured their investors with further announcements to suggest practical steps and a timetable for delisting.

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