Alibaba and the US$15b question: Amid Hong Kong's protests, when to list?

Hong Kong's political unrest is posing a dilemma for Alibaba Group Holding Ltd on the timing of its planned US$15 billion listing in the city, with sources saying China's biggest e-commerce company is now considering several timetables.[HONG KONG] Hong Kong's political unrest is posing a dilemma for Alibaba Group Holding Ltd on the timing of its planned US$15 billion listing in the city, with sources saying China's biggest e-commerce company is now considering several timetables.

But not a word was mentioned by Alibaba on the Hong Kong listing when it released estimate-beating earnings on Thursday nor did the offer come up in the hour-long discussion with analysts after the results.Two sources involved in the deal and one other briefed on Alibaba's discussions described the company's thinking on the deal as"fluid" and said Alibaba was considering several timetables.Alibaba declined to comment.

More than 10 weeks of confrontations between police and pro-democracy protesters have plunged Hong Kong into its worst crisis since it returned to Chinese rule in 1997 and presented President Xi Jinping with his biggest popular challenge since taking power in 2012.This week protesters effectively closed the city's airport on two successive days, disrupting tens of thousands of travellers and posing a practical problem to any company considering launching a deal roadshow in Hong Kong.

But Mr Li added:"I am confident that companies like that ultimately will find a home here, because this is home and I think they will come. I don't know when though." But the inclusion of Alibaba's Hong Kong shares in the Stock Connect is not guaranteed because the scheme does not yet allow mainland buying of companies which have weighted their voting rights in favour of founders, such as smartphone maker Xiaomi and Meituan Dianping, the online food delivery-to-ticketing firm. Both took advantage last year of another Hong Kong rule change to float in Hong Kong with weighted voting rights structures.

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