Alibaba Postpones Hong Kong Listing as Protests Roil Markets [The New York Times]
Alibaba Group Holding Limited American Depositary Shares each representing eight Ordinary share (BABA)
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Source: The New York Times
Alibaba Postpones Hong Kong Listing as Protests Roil Markets - The New York Times LONDON — Alibaba, the Chinese e-commerce giant, has postponed plans to list its shares on the Hong Kong Stock Exchange, according to two people briefed on the matter, as protests continue to rock the Asian financial capital. The protests and the instability they created in Hong Kong’s stock market led to the postponement of the offering, which had been expected to take place later this month, according to these people. The offering had been expected to raise $10 billion to $15 billion, one person said. Protests have disrupted the city for months and have begun to disrupt the commerce that makes up its lifeblood. Many economists are now predicting its economy will shrink in coming months because of both the antigovernment demonstrations and the worsening trade war between the United States and China. It is not clear when the company plans to stage the stock offering. A spokesman for Alibaba declined to co
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