Alibaba Group Holding Ltd (NYSE:BABA) has decided to put the initial public offerings (IPOs) of its logistics arm Cainiao Smart Logistics and brick-and-mortar chain Freshippo on hold due to challenging market conditions. What Happened: Alibaba’s Chairman Joe Tsai announced the decision during an earnings call on Wednesday, citing unfavorable market conditions as the primary reason for the delay. “Market conditions currently are just not in a state where we believe we can really truly reflect value, the intrinsic value of these businesses,” Tsai said. “Having said that, we continue to explore v…
