Alibaba to Spin Off Cainiao Logistics Unit in Hong Kong IPO

Alibaba plans to list its logistics unit Cainiao on the Hong Kong Stock Exchange
Cainiao will be the first of Alibaba's six new business units to file for an IPO
Alibaba will continue to hold over 50% of Cainiao shares after the spinoff
The move is part of a major restructuring of Alibaba into six units that can raise funds separately
The Hong Kong Stock Exchange has approved Cainiao's listing plan, though details on pricing and timing are still forthcoming

cnbc.com

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Posted 9/26/2023, 9:28:58 AM