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Alibaba group to scrap Hong Kong IPO plans of its logistics unit Cainiao
Money Control
·
1y ago
Medial
Alibaba Group has decided to abandon its plans for a Hong Kong IPO of its logistics unit, Cainiao. Instead, it is offering $3.75 billion to buy out the remaining 36 percent stake in the company. Chairman Joe Tsai believes there is a great opportunity for growth in expanding their global logistics network, hence the decision to focus on this business.
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China's Alibaba kicks off restructuring with plan to list logistics arm in Hong Kong
Economic Times
·
1y ago
Medial
Alibaba Group has initiated its restructuring plan by announcing its intention to list its logistics arm, Cainiao, in Hong Kong. This move follows Alibaba's announcement of its break-up plans six months ago. While the financial terms of the offering have not been finalized, Alibaba will retain over 50% of Cainiao's shares, making it a subsidiary of the company after the spin-off. The initial public offering (IPO) of Cainiao is expected to revive fundraising activities in Hong Kong, with the company aiming to raise between $1 billion and $2 billion.
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Alibaba to buy Cainiao stake for up to $3.75 billion as it drops IPO plan
Reuters
·
1y ago
Medial
Alibaba Group has announced its intention to acquire the remaining 36% of Cainiao, its logistics business, for up to $3.75 billion, rather than going ahead with plans for an IPO. Alibaba already holds a 64% stake in Cainiao. Chairman Joe Tsai cited the strategic importance of Cainiao and the long-term potential of building a global logistics network as reasons for the decision. Tsai also noted that the current capital market conditions in Hong Kong were not suitable for IPOs. The buyback is expected to be completed by June or July.
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Alibaba approves an additional $25 billion share buyback as its revenue disappoints
Economic Times
·
1y ago
Medial
Chinese ecommerce giant Alibaba Group Holding has approved an additional $25 billion for its share buyback program, following lower-than-expected sales revenue in Q4 2023. The company's Hong Kong shares fell 6.8% and its New York-listed stock price declined by 5.9%. Alibaba reported a 5% increase in sales to $36.67 billion in the quarter, missing analysts' estimates, with net income down 77% YoY. The firm cited falling revenues and declining values of equity investments. Alibaba faces competition from rivals such as Pinduoduo and ByteDance. The company also scrapped plans to list shares in its logistics unit Cainiao and its Freshippo grocery unit.
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Alibaba’s Cainiao plans to raise at least $1 billion in Hong Kong IPO soon
Economic Times
·
1y ago
Medial
Alibaba's logistics arm, Cainiao, is reportedly planning to raise at least $1 billion in an initial public offering (IPO) in Hong Kong soon. The IPO would help Cainiao in its efforts to expand and strengthen its logistics network, as the company aims to deliver goods within 24 hours in China and 72 hours globally. The move comes as e-commerce and online shopping continue to grow rapidly, increasing demand for reliable and efficient logistics services.
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Alibaba calls off $1 billion IPO for Cainiao amid market slump
Livemint
·
1y ago
Medial
Alibaba Group has decided to cancel the initial public offering of its Cainiao logistics arm due to poor market conditions. This move comes as a result of waning stock markets and a general decline in confidence. Alibaba lost interest in the IPO after experiencing setbacks with its cloud unit listing in 2023. The company had planned to float its Freshippo grocery chain as well, but these plans have also been put on hold. Alibaba is currently undergoing a restructuring and is exploring options to sell off non-core holdings.
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Alibaba dumps logistics arm IPO; to buy rest of Cainiao stake for up to $3.8 billion
Economic Times
·
1y ago
Medial
Alibaba is offering to buy the remaining 36% stake in Cainiao for up to $3.75 billion, abandoning plans for an IPO. Alibaba, which already owns around 64% of Cainiao, sees the logistics business as strategically important and wants to build out a global logistics network. This move is part of Alibaba's restructuring plan, which has included a new CEO and a refocus on core businesses. The company believes that the reorganization will have a positive impact on its operating and financial metrics in the future.
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China's Ant Group plans to list overseas unit in Hong Kong, report says
Economic Times
·
3m ago
Medial
Ant Group, an affiliate of Alibaba, plans to list its overseas unit, Ant International, on the Hong Kong stock exchange, as reported by Chinese media. The company is reportedly in talks with regulators about the potential listing, though it’s unclear if discussions are with Chinese or other regulators. Ant's previous $37 billion IPO was halted by Chinese authorities in 2020, leading to a restructuring and a fine. Ant is also seeking a financial holding company license.
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Ant unit plans to apply for stablecoin issuer license in Hong Kong
Economic Times
·
1m ago
Medial
Ant Group's overseas unit, Ant International, plans to apply for a stablecoin issuer license in Hong Kong. This move follows the recent passage of a stablecoin bill by Hong Kong's legislature, creating a licensing framework for fiat-referenced stablecoin issuers. Ant Group, backed by Alibaba, aims to apply once the new ordinance takes effect on August 1. Additionally, there are plans to seek stablecoin licenses in Singapore and Luxembourg.
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Alibaba's cloud division eyes state firms for up to $3 billion fundraising
Economic Times
·
1y ago
Medial
Alibaba Group Holding Ltd's cloud division is weighing a private round to raise funds from Chinese state-owned enterprises ahead of the business' market debut in Hong Kong, Bloomberg News reported on Monday.
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China’s Midea moves ahead with Hong Kong’s likely biggest listing this year
Livemint
·
11m ago
Medial
Chinese appliance maker Midea Group has launched its initial public offering (IPO) in Hong Kong, aiming to raise up to $3.46bn, the largest IPO deal in the region this year. Midea plans to sell around 492 million shares at a price range of HKD 52.00-HKD54.80 ($6.67-$7.03) per share. The IPO size would surpass Sichuan Baicha Baidao Industrial's $315m listing in April. The company's first-half net profit increased by 14% to $2.93bn and revenue rose by 10% to $30.36bn. Midea's shares will start trading in Hong Kong on Tuesday.
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