Alibaba Shelves Cainiao IPO, Proposes $3.75B Buyout Instead
- Alibaba withdraws Cainiao's planned Hong Kong IPO and stock listing
- Alibaba proposes offer to buy out Cainiao minority shareholders for $3.75B
- Alibaba aims to integrate Cainiao more into core ecommerce platforms
- Alibaba halting its Ling Shou Tong sourcing platform operations March 30
- Alibaba stock lost 17% in past 12 months; investors can gain exposure via PGJ and ONLN ETFs
