Alibaba postpones up to $15-billion Hong Kong listing amid protests: sources [Toronto Globe and Mail (Ontario, Canada)]
Alibaba Group Holding Limited American Depositary Shares each representing eight Ordinary share (BABA)
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Source: Toronto Globe and Mail
Alibaba postpones up to $15-billion Hong Kong listing amid protests: sources China’s biggest e-commerce company Alibaba Group Holding Ltd has delayed its up to $15-billion listing in Hong Kong amid growing political unrest in the Asian financial hub, two people with knowledge of the matter told Reuters. Alibaba’s Hong Kong-listing plans are being closely watched by the financial community for indications on the business environment in the Chinese-controlled territory and provides a window into Beijing’s reading of the situation. While no new timetable has been formally set, Alibaba could launch the Hong Kong deal as early as in October, seeking to raise $1-$15-billion, when political tensions ease and market conditions become favorable again, said one of the people. Story continues below advertisement The decision to postpone the deal, initially set for late August, was taken at a board meeting before Alibaba’s latest earnings release last week, the second person said. The delay is du
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