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.
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.in late March it would split its business into six units and that most of them would explore capital raisings or market debuts to help fund future growth.
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.
Cainiao, which provides software and shares data with warehouses, carriers and logistics firms, reported 42 billion yuan in revenue in the nine months ended December, up 22% year-on-year and accounting for 6% of Alibaba's total revenue. Analysts have said that the breakup could ease scrutiny over Chinese billionaire Jack Ma's sprawling business empire, which has been a target of local regulators as part of a broader crackdown on private enterprises since late 2020.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Hong Kong police seize statue in 'incitement to subversion' probeHong Kong police seized an exhibit on Friday in connection with what they said was an attempt to incite subversion, with media reporting it was a statue commemorating Beijing's Tiananmen Square crackdown on democracy protesters in 1989.
Baca lebih lajut »
Hong Kong to step in as ‘options are dwindling’ globally — FinTech chairNeil Tan, the chair of the FinTech Association of Hong Kong, says retail traders could be welcome in the city as other regions and governments step back from permitting everyday people to trade cryptocurrencies.
Baca lebih lajut »
India's RR Kable files for IPO to raise up to $27.5 million -draft prospectusIndian wire and cable maker RR Kabel Ltd., backed by private equity firm TPG, filed for an initial public offering on Sunday, seeking to raise up to $27.53 million, according to its draft prospectus filed to India's market regulator and seen by Reuters.
Baca lebih lajut »
More than 1,000 trafficking victims rescued in separate operations in Southeast AsiaMore than 1,000 trafficking victims were rescued in separate operations in Southeast Asia over the last week, officials in Indonesia and the Philippines said.
Baca lebih lajut »
Song Joong Ki And Hong Sa Bin Find Each Other In A “Hopeless” World In Poster For Upcoming Noir FilmSong Joong Ki And Hong Sa Bin Find Each Other In A “Hopeless” World In Poster For Upcoming Noir Film
Baca lebih lajut »
GOP senators tell Schumer they won't vote to raise debt ceiling without spending cutsIn a letter sent to SenSchumer, a group of 43 Senate Republicans rallied behind their GOP colleagues in the House, telling Schumer they will not vote on any measure to raise the debt ceiling unless it’s attached to spending cuts.
Baca lebih lajut »