Alibaba delayed plans to list its shares in Hong Kong. The Chinese company is already listed on the stock exchange market of New York, but reported that he is considering a second listing which could collect up to $ 15 billion.
Alibaba: delayed listing
Alibaba has delayed the long-awaited IPO of 15 billion dollars in Hong Kong. After the announcement, the headlines of NYSE fell 0,6% a $ 177,21.
Reliable sources they said the Chinese company could launch its IPO as early as October of the current year, waiting for the market outlook to improve. In that case, the giant will still try to raise between $ 10 and $ 15 billion.
The decision to postpone the agreement was made at the Council meeting last week. Previously, the deal had been concluded in August, but due to the lack of financial stability and demonstrations that have shaken the city, it was decided to wait for better times.
THEindex Hang Seng dropped to a low last week and many experts commented that "it would be unwise to act at this time".
To date, the situation seems to be unlikely to improve: protests in favor of democracy do not show concrete signs of an immediate conclusion.
On Sunday, hundreds of thousands of people protested and demonstrated in the streets of the city.
The proposed listing on the Alibaba stock exchange is a clear demonstration of Hong Kong's financial strength compared to Western financial centers, especially New York.
The company is already listed on the New York Stock Exchange, but presented a second listing in Hong Kong in June.
Alibaba Financial performance and accounting data
Last week, Alibaba reported that the revenues have increased by 42% a 115 billion yuan in the last quarter compared to last year, despite the slowdown in Chinese economic growth.
At the beginning of this year, Altaba, the Yahoo branch that holds the company's stake in Alibaba said it sold the entire 11% stake.
Alibaba would like this to happen before listing on the Hong Kong market in order to stabilize its trading volumes.
Many have already revealed that the sale of Altaba has been completed, but to date there has been no official response.
Kenny tang, CEO of the investment company Royston Securities Hong Kong, he says that Hong Kong is still the best place for Alibaba, because the city's financial market is more open and international than other financial centers.
For Alibaba a listing in the Asian state would also represent a way to diversify its entry into new investment markets.
Moreover, his technological vocation could find fertile ground for its trade also with the new index launched on the Shanghai square: lo star board, a kind of "Nasdaq"Chinese.
