People familiar with the matter said that Alibaba plans to submit an official listing application to the Hong Kong Stock Exchange in the coming weeks (ie, the third quarter of this year). In response, Alibaba responded that it did not comment on the rumors.
On June 17, Alibaba issued an announcement to vote on three proposals at the annual general meeting of shareholders held in Hong Kong on July 25 this year. One of the most concerned is that Ali will split the common stock per share into eight.
It is mentioned in the article that if approved, the stock split will be carried out before July 15, 2020. Alibaba said the proposed stock split "will increase the number of shares issued at a lower price per share, which the board believes will increase the flexibility of the company's future fundraising activities, including the issuance of new shares."