Alibaba Arbitrage to Get Lively After Hong Kong Index … In order to request a conversion, either underlying to ADR or ADR to underlying, account holders may utilize IBKR's Voluntary Election Tool. “Our future focus in Asia is on Mainland China,” the spokesman said in an email. The index fund giant closed its Singapore operation in 2018. In connection with the Alibaba Hong Kong IPO, Alibaba has established a branch share register in Hong Kong in addition to its principal share register in the Cayman Islands. Temasek, the investment vehicle owned by the Singapore government, said in September it had swapped half its stake in Alibaba — worth about US$3 billion (RM12.14 billion) — from the United States to Hong Kong. ADR Temasek, the investment vehicle owned by the Singapore government, said in September it had swapped half its stake in Alibaba — worth about US$3 billion (RM12.14 billion) — from the United States to Hong Kong. ALIBABA Alibaba Holders need to pay as much as $0.05 for converting each ADR. BABA. This means that stock holders of the US-listed shares will be able to convert these shares to the HK-listed shares and vice versa. Does not require international trading access. Its ADRs sank more than 8% amid a broader tech stock retreat. What Does Alibaba’s Hong Kong Listing Mean for U.S. Shareholders? The recent crash in BABA stock is related to delisting fears only. Alibaba Temasek, the investment vehicle owned by the Singapore government, said in September it had swapped half its stake in Alibaba — worth about US$3 billion (RM12.14 billion) — from the United States to Hong Kong.