Alibaba Group Holding Ltd. is considering postponing its planned listing in Hong Kong due to protests that closed the local airport for two days, the New York Post reported, citing sources.
The Chinese e-commerce company had been preparing to list its shares on the Hong Kong Stock Exchange in September, sources told the Post.
Alibaba planned to raise US$20 billion through the secondary listing in a bid to lure more domestic investors. The company raised US$25 billion in its market debut on the New York Stock Exchange in 2014 after Hong Kong regulators denied a listing request over its proposed governing structure.
Alibaba recently reported its first-quarter fiscal 2020 earnings, which exceeded analysts' expectations despite slower revenue growth compared to both the previous and year-ago quarters.