Alibaba to spin off Cainiao logistics unit with Hong Kong IPO
SHANGHAI -- Chinese e-commerce giant Alibaba Group Holding intends to list its Cainiao logistics business on the Hong Kong Stock Exchange, the company said in a filing Tuesday, with plans to reportedly raise at least $1 billion through the initial public offering. Alibaba, which held 69.5% of…
#shanghai #alibabagroupholding #cainiao #alibaba