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Alibaba calls off $1 billion IPO for Cainiao amid market slump

Livemint

Livemint · 1y ago

Alibaba calls off $1 billion IPO for Cainiao amid market slump

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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China's Alibaba kicks off restructuring with plan to list logistics arm in Hong Kong

Economic Times

Economic Times · 1y ago

China's Alibaba kicks off restructuring with plan to list logistics arm in Hong Kong

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.

Alibaba to buy Cainiao stake for up to $3.75 billion as it drops IPO plan

Reuters · 1y ago

Alibaba to buy Cainiao stake for up to $3.75 billion as it drops IPO plan

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.

Alibaba dumps logistics arm IPO; to buy rest of Cainiao stake for up to $3.8 billion

Economic Times

Economic Times · 1y ago

Alibaba dumps logistics arm IPO; to buy rest of Cainiao stake for up to $3.8 billion

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.

Alibaba group to scrap Hong Kong IPO plans of its logistics unit Cainiao

Money Control

Money Control · 1y ago

Alibaba group to scrap Hong Kong IPO plans of its logistics unit Cainiao

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.

Alibaba’s Cainiao plans to raise at least $1 billion in Hong Kong IPO soon

Economic Times

Economic Times · 1y ago

Alibaba’s Cainiao plans to raise at least $1 billion in Hong Kong IPO soon

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.

Alibaba approves an additional $25 billion share buyback as its revenue disappoints

Economic Times

Economic Times · 1y ago

Alibaba approves an additional $25 billion share buyback as its revenue disappoints

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.

With Cainiao buyback, Alibaba takes aim at rivals' overseas advance

Reuters · 1y ago

With Cainiao buyback, Alibaba takes aim at rivals' overseas advance

Alibaba has decided against spinning off its logistics subsidiary, Cainiao, and instead plans to buy full control of the company. Analysts believe this move signifies Alibaba's recognition of increased competition from e-commerce rivals Shein and Temu in overseas markets. The decision is also part of Alibaba's strategy to improve its global marketplaces and regain market share from competitors. The company aims to invest in Cainiao's global network to reduce delivery times and leverage its logistics infrastructure as a differentiator in the overseas battle.

JD.com wins antimonopoly lawsuit against Alibaba

Economic Times

Economic Times · 1y ago

JD.com wins antimonopoly lawsuit against Alibaba

Chinese online retailer JD.com has won a lawsuit against rival Alibaba, with the latter having to pay a 1 billion yuan ($140.68 million) fine for monopolistic practices. The court ruling stated that Alibaba had abused market dominance and engaged in "choosing one from two" practices, causing significant harm to JD.com.

Tiger Global-backed Groww confidentially files for up to $1-bn IPO

VCCircle

VCCircle · 3m ago

Tiger Global-backed Groww confidentially files for up to $1-bn IPO

Groww, backed by Tiger Global, has confidentially filed for an IPO with SEBI, aiming to raise $800 million to $1 billion, valuing the company at around $7 billion. The IPO will combine fresh issues and offer-for-sale components. Proceeds will enhance technology infrastructure and business expansion. Groww, India's largest stock broking firm, has a 26% market share, with a significant client base increase. Additionally, it plans to raise $150 million from GIC, amid ongoing funding efforts.

Circle in Talks to Sell to Coinbase or Ripple Amid $5B IPO, Bids Exceed $10B | DeepNewz VC

deepnewz

deepnewz · 3m ago

Circle in Talks to Sell to Coinbase or Ripple Amid $5B IPO, Bids Exceed $10B | DeepNewz VC

Circle is reportedly in discussions to sell to Coinbase or Ripple amid $5 billion IPO bids exceeding $10 billion. Despite the interest, skepticism exists regarding why a company would pay $5 billion for a stablecoin like Circle's, which is losing market share. Additionally, Coinbase benefits from Circle with an annual $1 billion return at a low marginal cost, raising questions about the potential acquisition's strategic value in the current financial climate.

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