Alibaba's proposed IPO on the Hong Kong Stock Exchange is expected to raise between $10 billion and $15 billion.
The Chinese e-commerce giant has postponed its previously planned Hong Kong listing due to months of protests and political instability within the city, according toThe IPO process was initially set to begin in August, and a new time hasn't been decided on yet, Reuters said. But, if political tensions ease and market conditions improve, Alibaba could reportedly pursue a deal as early as October.
Protests have rocked Hong Kong over the last 11 weeks. The demonstrations began in response to a controversial extradition bill, but have since involved into a larger pro-democracy movement. The protests have frequently grown violent, and Chinese authorities have warned they could send the city into a recession.told Reuters
The listing has been a point of interest for investors seeking to gauge the business environment in Hong Kong. Losing Alibaba's IPO would be a big hit to the Stock Exchange of Hong Kong, which still trails behind the New York Stock Exchange as the dominate marketplace for new listings.of its Asia Pacific Unit from the Hong Kong exchange. The IPO was expected to raise close to $10 billion.
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