An Alibaba Group indication is found at the Environment Synthetic Intelligence Meeting in Shanghai, July 6, 2023.
Aly Music | Reuters
Alibaba strategies to checklist its logistics unit Cainiao on the Hong Kong Inventory Exchange, the Chinese e-commerce huge stated in a regulatory filing on Tuesday.
Alibaba will keep on to keep far more than 50% of the shares of Cainiao right after the spinoff.
The move is portion of one of the most radical shake-ups in Alibaba’s record. In March, the enterprise reported it will break up its composition into 6 business models, the vast majority of which will be capable to increase outdoors resources and go community.
Cainiao is the to start with of these companies to formally file for an original general public providing (IPO).
Alibaba explained the Hong Kong Inventory Trade has verified that the Cainiao listing could go forward. The trade did not right away respond to a CNBC ask for for remark.
Particulars have nevertheless to area on the pricing of shares or on the envisioned listing day.
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