Alibaba’s grocery unit Freshippo has postponed its Hong Kong IPO amid weak consumer share sentiment,House of Pleasures (House of Tolerance) according to Bloomberg. The unit was originally expected to be listed before May 2024. The report said Freshippo could be valued at around $4 billion after Alibaba conducted early talks with potential investors, which is lower than the $6 billion to $10 billion at the time the unit considered fundraising earlier last year. The Alibaba-owned new retail company has refrained from providing detailed comments on the matter, according to Chinese media outlets. [Bloomberg]
