Alibaba's grocery unit IPO put on ice amid disappointing valuation

Alibaba's grocery unit IPO put on ice amid disappointing valuation

FILE PHOTO-Shopping trolley is seen in front of Alibaba logo in this illustration, July 24, 2022. REUTERS/Dado Ruvic/Illustration

China’s Alibaba Group Holding Ltd is putting a potential Hong Kong initial public offering of its Freshippo grocery chain on hold amid weak sentiment for consumer stocks, Bloomberg News reported on Friday, citing sources.