Alibaba to delay second listing in Hong Kong [CNN]
Alibaba Group Holding Limited American Depositary Shares each representing eight Ordinary share (BABA)
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Source: CNN
Alibaba will reportedly delay its second listing in Hong Kong The Chinese tech company already trades publicly in New York, but was reported to have been considering a second listing that Reuters said could raise as much as $15 billion. The plan was to list in August, Reuters said. The news organization cited two anonymous sources who attributed the decision to postpone the listing to "the lack of financial and political stability" in Hong Kong. The city has seen 11 consecutive weekends of pro-democracy protests. Alibaba ( BABA ) declined to comment on what it called "market rumors" to CNN Business. The company could still list as early as October, according to Reuters. Alibaba decided to list in the United States five years ago after negotiations with Hong Kong broke down. Hong Kong regulators at the time refused to allow the online retail giant to list with a corporate structure that would give Alibaba founder Jack Ma and other managers the control they wanted. Hong Kong changed
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