Alibaba’s grocery unit Freshippo has postponed its Hong Kong IPO amid weak consumer share sentiment,Girlfriend’s Sister [Uncut] 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]
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