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LB Select
2023.09.11 01:51
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Why did Hema Fresh announce the suspension of its IPO?

The current consumer sector market sentiment is weak.

Bloomberg News reported on Friday, citing sources, that Alibaba Group has temporarily suspended the potential plan for the initial public offering (IPO) of Hema Fresh in Hong Kong, citing weak market sentiment in the consumer sector.

Alibaba believes that the current valuation of Hema Fresh is likely to be around $4 billion, which is lower than the target of $6 billion to $10 billion set last year when considering a round of private financing.

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