February 21, 2024
Alibaba’s logistics arm goals to lift as much as $2 billion by way of an inventory in Hong Kong probably early subsequent 12 months, sources with data of the matter stated, bolstering hopes for a capital markets revival within the Asian monetary hub.Cainiao Community Expertise’s preliminary public providing (IPO) plan comes after Alibaba flagged in late March it might cut up its enterprise into six models and that the majority of them would discover capital raisings or market debuts to assist fund future development.

Cainiao, which has began work on the IPO, is seeking to increase between $1 billion and $2 billion in Hong Kong, based on three sources. They declined to be named as a result of the itemizing deliberations are non-public.

The deliberate IPO, the dimensions of which has not been reported earlier than, is more likely to be launched in early 2024, two of the sources stated.The sources cautioned that the plans aren’t finalised but and stay topic to modifications.

Cainiao stated it might not touch upon market hypothesis.

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Alibaba didn’t reply to a request for remark.