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Alibaba to Spin Off Cainiao Logistics Unit for Hong Kong IPO
by YourTech Story YourTechStory is all about stories of products, teThe Cainiao Smart logistics arm of ALIBABA Group Holding’s e-commerce behemoth will be spun off via an initial public offering (IPO) in Hong Kong, according to the company.
Based on a filing on September 26, the Hong Kong exchange approved the business’s capacity to move through with its planned Cainiao split and IPO. According to the filing, Alibaba will continue to own over fifty percent of the unit’s stock, and Cainiao will remain a business subsidiary.
Read more: https://www.yourtechstory.com/2023/09/28/alibaba-to-spin-off-cainiao-logistics-unit-for-hong-kong-ipo/
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YourTechStory is all about stories of products, te
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Created on Sep 28th 2023 01:01. Viewed 86 times.
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