Bilibili’s Hong Kong Trading Plan Shows the Quest for Chinese Capital

(Bloomberg) — Faced with the risk of losing Wall Street investors, a growing number of Chinese tech companies are seeking an onerous way to raise capital back home: a primary listing in Hong Kong.

Bilibili Inc. will convert its Hong Kong listing to dual primary status from secondary by early October, the video-streaming company said this week. The change would enable the stock to be included in the exchange’s Stock Connect program, which gives mainland investors access to trade shares in Hong Kong. Online real estate broker KE Holdings Inc. and drugmaker Zai Lab Ltd. are also pursuing such a shift.