Protests cause Alibaba to postpone Hong Kong IPO

The $15 billion listing has been planned for months, but the e-commerce giant's ties to Beijing have led to a delay

HONG KONG - DECEMBER 01:Pro-democracy protesters clash with police outside Hong Kong's Government complex on December 1, 2014 in Hong Kong. Leaders from the Federation of Students called on f
HONG KONG, MONDAY: Pro-democracy protesters clash with police outside Hong Kong's Government complex.
(Image credit: 2014 Getty Images)

The 11-week-old and ever-escalating political protests in Hong Kong have caused the Chinese online retail company Alibaba to delay its highly anticipated $15 billion listing in the city’s stock exchange, confidential sources have revealed to Reuters.

Citing two sources who the publication claimed were not authorised to speak to the media, Reuters reported that the listing will not take place this August, as was expected, because of the turmoil currently engulfing the semi-autonomous city.

Subscribe to The Week

Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

SUBSCRIBE & SAVE
https://cdn.mos.cms.futurecdn.net/flexiimages/jacafc5zvs1692883516.jpg

Sign up for The Week's Free Newsletters

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

Sign up
To continue reading this article...
Continue reading this article and get limited website access each month.
Get unlimited website access, exclusive newsletters plus much more.
Cancel or pause at any time.
Already a subscriber to The Week?
Not sure which email you used for your subscription? Contact us
William Gritten

William Gritten is a London-born, New York-based strategist and writer focusing on politics and international affairs.