Alibaba’s Grocery Arm Gears Up for Hong Kong IPO
- CICC, Morgan Stanley working with Freshippo on potential IPO
- Freshippo business offers supermarket and dine-in experience
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Freshippo, the Alibaba Group Holding Ltd. grocery chain known for selling cooked lobsters and grouper freshly chosen from fish-tanks in the store, has started preparations for a Hong Kong initial public offering, people familiar with the matter said.
The company is working with banks including China International Capital Corp. and Morgan Stanley to help prepare for the first-time share sale of the unit, known in Chinese as Hema, the people said. The plan is still at an early stage and a listing might not happen until next year or later, said one of the people, who asked not to be identified as the information is private.