- Home >> Features >> Technology
Alibaba delays its $15bn listing in Hong Kong due to unrest
- NYOOOZ Reporter
- Wednesday | 21st August, 2019
HONG KONG/NEW YORK (Reuters) – 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. “It would certainly annoy Beijing by offering Hong Kong such a big gift given what’s going on in the city,” the source added. Alibaba declined to comment on its Hong Kong deal plans. Just last month, Anheuser-Busch InBev cancelled a planned up to $9.8 billion Hong Kong IPO of its Asia Pacific unit. Asked last week whether Hong Kong’s turmoil would affect Alibaba’s listing, Hong Kong stock exchange CEO Charles Li avoided directly acknowledging the company’s application, which is still technically confidential.
If You Like This Story, Support NYOOOZ
Your support to NYOOOZ will help us to continue create and publish news for and from smaller cities, which also need equal voice as much as citizens living in bigger cities have through mainstream media organizations.