Alibaba to list its logistics unit Cainiao as part of historic shakeup
Publishing timestamp: 2023-09-26 06:55:21
Summary
Alibaba plans to list its logistics unit, Cainiao, on the Hong Kong Stock Exchange. This move is part of a larger restructuring of Alibaba, which aims to split the company into six business units, with the majority able to go public. Cainiao is the first of these businesses to file for an IPO. Alibaba will continue to hold more than 50% of shares in Cainiao after the spinoff. The listing is expected to enhance Cainiao's profile and align the responsibilities and accountability of both Alibaba and Cainiao.
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Keywords: business news, cloud computing, internet, enterprise, mergers and acquisitions, alibaba group holding ltd, ipo, breaking news: asia, breaking news: technology,
Source: https://www.cnbc.com/2023/09/26/alibaba-plans-to-ipo-its-logistics-unit-cainiao.html