MARKETS & INVESTING | Staff Reporter, Hong Kong

Here's how Hong Kong plans to win the next Alibaba

HKEX proposes allowing dual-class shares, pre-profit listings.

According to Bloomberg, Hong Kong Exchanges & Clearing Ltd. is sending a message to startup companies the world over: We want your business.

"The bourse operator on Friday proposed the creation of a new exchange that would allow firms to list before they’ve made a profit and permit dual-class shares, an issue that caused Hong Kong to miss out on Alibaba Group Holding Ltd.’s $25 billion initial public offering. While small-cap trading in the former British colony has for years been plagued by wild price swings and low volume, a third venue would be a chance to compete with international rivals for blockbuster listings such as Ant Financial, Alibaba’s finance affiliate," reported Bloomberg.

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