Thursday 28 Mar 2024
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SINGAPORE (June 18): Alibaba Pictures, the flagship unit of Alibaba Group’s entertainment business, has received confirmation from the Singapore Exchange Securities Trading Limited (SGX-ST) that it will be delisting its shares from the mainboard on Thursday.

The company cited several reasons for its proposed delisting. They include a strategic focus of resources in China, where the company’s core business activities are being carried out. Before its delisting, Alibaba Pictures was listed on both SGX and the Hong Kong Stock Exchange (HKSE).

The company says the maintaining a single primary listing would allow the Company to focus its efforts and resources on its business operations in the Middle Kingdom. Alibaba Pictures also feels that...(click on link for full story on theedgesingapore.com)

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