Alibaba's 'Cainiao' Logistics Arm Submits IPO Prospectus to HKSE

Marbridge Consulting, 9/26/23

Cainiao Smart Logistics Network Limited, the logistics arm of Chinese e-commerce giant Alibaba Group (NYSE: BABA; 9988.HK), submitted an IPO prospectus to the Hong Kong Stock Exchange today. The financial terms of the proposed listing, such as the size of the offering, have not been finalized.

According to the prospectus, Alibaba currently holds a 69.54% stake in Cainiao. After the spin-off, Alibaba will continue to hold more than 50% of shares in Cainiao, and Cainiao will remain a subsidiary of the company.

The prospectus also revealed that Alibaba contributed to approximately 30% of its total revenue in its financial reporting years between 2021-2023 and the three months to the end of June 2023.

To read Cainiao's full prospectus, please click here. https://www1.hkexnews.hk/app/sehk/2023/105763/documents/sehk23092601328.pdf

Keywords: e-commerce Internet IPO spin-off logistics Alibaba Group Cainiao BABA 9988.HK

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Marbridge Daily