HONG KONG/NEW YORK (Reuters) – China’s biggest e-commerce company Alibaba Group Holding Ltd has delayed its up to $15 billion listing in Hong Kong amid growing political unrest in the Asian financial hub, two people with knowledge of the matter told Reuters. Alibaba held a board meeting before its latest quarterly earnings release last week, during which the board decided to postpone the Hong Kong listing which was set to take place in late August, one of the people said. The decision was made on the lack of financial and political stability in Hong Kong amid more than 11 weeks of pro-democracy demonstrations which have become increasingly violent and plunged the city into turmoil, the people added.

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