Hong Kong's political unrest is posing a dilemma for Alibaba Group Holding ...
HONG KONG - Hong Kong’s political unrest is posing a dilemma for Alibaba Group Holding Ltd on the timing of its planned $15 billion listing in the city, with sources saying China’s biggest e-commerce company is now considering several timetables.
In preparation for the giant offer, bankers advising other large listings in Hong Kong have been careful to avoid planning their launches around that period, fearing that a clash of timing would crowd out their offerings. The listing was always expected to be a complex affair because of China’s tight control of cross-border share trading, but Hong Kong’s unrest has taken the complexity several notches higher.
“How do you think Beijing feels about giving Hong Kong a $15 billion gift like this, right now?” asked one capital markets professional not involved in the Alibaba deal.A listing by Alibaba is a big deal for Hong Kong, which loosened its rules last year specifically to lure overseas-listed Chinese tech giants to list closer to home.
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