Alibaba Postpones its Hong Kong Listing Amid Escalating Protests

According to a report on Reuters, Alibaba has put off its plans for the $15 billion listing on Hong Kong's stock market over escalating..

Arslan Butt•Wednesday, August 21, 2019•1 min read

According to a report on Reuters, Alibaba has put off its plans for the $15 billion listing on Hong Kong’s stock market over escalating protests and uncertainty in the region. Anonymous sources hinted that Alibaba’s Hong Kong secondary listing could be delayed from around the end of this month until October, which will help the company raise $10-15 billion capital.

Pro-democracy protests have been raging on in Hong Kong since the past 11 weeks and have recently started turning violent as well. In recent days, the city has seen the use of tear gas by the police and the arrest of over 700 protesters.

Amid this highly volatile political situation, Alibaba decided during a board meeting to postpone its Hong Kong listing. A Hong Kong IPO would give the company greater visibility globally, in addition to helping it raise more capital. There have been no official comments from Alibaba so far on this development.

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ABOUT THE AUTHOR See More

Arslan Butt

Index & Commodity Analyst

Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics. His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker. His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.