Alibaba, China’s biggest e-commerce company, is pushing back its $15 billion Hong Kong public offering because of political unrest in the Asian financial center, Reuters reported.
The listing, originally planned for August, may happen in October, the news agency reported. The decision to delay was made at a board meeting held before the company reported financial results last week.
The move comes after about 11 weeks of pro-democracy protests, which have disrupted life in Hong Kong and show no sign of stopping. Clashes between police and protesters have been violent at times, and China’s government has massed troops near Hong Kong and warned protesters to stand down. More than 700 people have been arrested.
Alibaba U.S. listed shares ended the day down 1%.