SYDNEY/HONG KONG: Alibaba's logistics arm aims to raise up to $2 billion via a listing in Hong Kong likely early next year, sources with knowledge of the matter said, bolstering hopes for a capital markets revival in the Asian financial hub. Cainiao Network Technology's initial public offering (IPO) p
SYDNEY/HONG KONG: Alibaba's logistics arm aims to raise up to $2 billion via a listing in Hong Kong likely early next year, sources with knowledge of the matter said, bolstering hopes for a capital markets revival in the Asian financial hub.
The planned IPO, the size of which has not been reported before, is likely to be launched in early 2024, two of the sources said.Cainiao said it would not comment on market speculation.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.
The logistics arm's IPO plan is the first of the expected capital raisings for Alibaba's spun-off units to be reported publicly as it pursues the biggest restructuring in its 24-year history. While Alibaba has not divulged potential listing venues for the other units, bankers say that Hong Kong would be a preferred destination because of its proximity to the group's home market and Sino-U.S. tensions.
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Alibaba logistics arm eyes up to $2 billion Hong Kong IPO -sourcesSYDNEY/HONG KONG : Alibaba's logistics arm aims to raise up to $2 billion via a listing in Hong Kong likely early next year, sources with knowledge of the matter said, bolstering hopes for a capital markets revival in the Asian financial hub.Cainiao Network Technology's initial public offering (IPO) plan
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