Alibaba Logistics Business Cainiao Seeks Hong Kong IPO in Early 2024
The IPO plan for the logistics business kick-started after Alibaba revealed in March that it would split its business into six units.
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The IPO plan for the logistics business kick-started after Alibaba revealed in March that it would split its business into six units.
Alibaba's logistics arm aims to raise up to $2b in its HK listing early next year, bolstering hopes for a capital markets revival in the city.
Alibaba, which acts as a massive online marketplace for buyers and sellers, has in past years picked up stakes in top express delivery players to ensure reliable services for the group, , alibaba, initial public offerings
Cainiao Network Technology’s IPO plan comes after Alibaba said it would split its business into six units. Read more at straitstimes.com.
The Alibaba unit would join a number of high-profile Chinese firms including fast-fashion leader Shein seeking to tap US capital. Read more at straitstimes.com.