Alibaba Group on Tuesday kicked off its restructuring with a plan to list its logistics arm Cainiao in Hong Kong that would make the unit the first to be separated since the Chinese e-commerce giant announced its break-up six months ago.
on Tuesday kicked off its restructuring with a plan to list its logistics arm Cainiao in Hong Kong that would make the unit the first to be separated since the Chinese e-commerce giant announced its break-up six months ago.
However, Alibaba, which holds a 69.54% stake in Cainiao, will continue to hold more than 50% of shares in Cainiao and it will remain a subsidiary of the company after the spin-off, Alibaba added.between $1 billion and $2 billion. Since Alibaba co-founded Cainiao in 2013 with partners including department store owner Intime Group and some logistics firms, the unit has become a major logistics provider in its own right in China, serving third-party customers as well as Alibaba.
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