Ma has not immigrated to HK: Alibaba

An employee is seen behind a glass wall with the logo of Alibaba at the company's headquarters on the outskirts of Hangzhou, Zhejiang province, April 23, 2014.[Photo/Agencies]

Alibaba Group Holding Ltd announced on its official social media Weibo account on Wednesday that its founder and executive chairman Jack Ma has not immigrated to Hong Kong, and nor does he have any such plans either, clarifying some rumors online.

Chinese e-commerce giant Alibaba is set to go public on the New York Stock Exchange this Thursday with shares to begin trading on Friday New York time. This could be the largest initial public offering in history. The company started its roadshow in Hong Kong on Monday.

"Jack Ma lives in Hangzhou, Zhejiang province, with his hukou registered there. He is a citizen of the Chinese mainland," said the announcement.

Some earlier reports claimed that Ma has settled down in Hong Kong through investment immigration, and is expected to become a permanent resident of Hong Kong by the end of 2015.

Meanwhile, the reports said Ma had a preference of the city although the traditional approach of business supervision in Hong Kong doesn't match the innovative model of the company.

Alibaba's original IPO plan was to list in Hong Kong, but the stock exchange wouldn't accept its corporate structure to allow its 27 partners to control the board of directors, instead of letting the shareholders be in charge. Therefore Alibaba turned to New York.

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