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

Economic Times · 1y

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.