Alibaba's IPO snub should spur efforts to woo mainland tech companies

The Alibaba Group's decision to choose the US over Hong Kong for its initial public offering hinged around the company's shareholding structure, which gives its partners the right to appoint the majority of board members. This goes against Hong Kong's "one shareholder, one vote" rule, which meant there could be no listing on the Hong Kong stock exchange without a change to existing rules.

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