'Alibaba Grocery IPO On Backburner As Valuations Disappoint; Unit Likely To Get $4B Market Value Based On Investor Feedback; Alibaba Decides To Prioritize Listings Of Other Businesses' - Bloomberg News
Portfolio Pulse from Benzinga Newsdesk
Alibaba Group Holding Ltd. has decided to postpone the potential Hong Kong IPO of its Freshippo grocery chain due to weak sentiment for consumer stocks. After initial discussions with potential investors, Alibaba concluded that it could likely achieve a valuation of around $4 billion for Freshippo, which is lower than its initial expectations.
September 08, 2023 | 2:24 pm
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Alibaba's decision to postpone the IPO of Freshippo due to lower than expected valuation could potentially impact its stock price.
The postponement of the IPO due to lower than expected valuation indicates a weaker market sentiment towards Alibaba's business, which could negatively impact investor sentiment and potentially lead to a decrease in Alibaba's stock price.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100