Alibaba Postpones IPO Due to Protests in Hong Kong
As it became known, the Chinese e-commerce giant Alibaba has postponed an initial public offering of $15 billion in Hong Kong amid ongoing political protests. The placement was planned for the end of August, the company expected to raise about $10-15 billion. But now the new official date is unknown. According to one of Reuters informants, if the political situation calms down and market conditions become more favorable, Alibaba may schedule a listing already in October. The company decided to postpone the IPO due to financial and political instability in Hong Kong. Demonstrations of democratic activists have been going on here for 11 weeks now. The police use tear gas, more than 700 people are arrested.