Alibaba’s Logistics Arm Files for $1 Billion-Plus IPO

Alibaba plans to retain a majority stake in Cainiao after IPO
Logistics business among first of Alibaba units to go public

WATCH; Alibaba Group Holding’s logistics arm, Cainiao Smart Logistics Network Ltd., has filed for its initial public offering in Hong Kong. Catherine Lim discusses the IPO on Bloomberg Television.Source: Bloomberg

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By Jane Zhang and Pei Li

September 26, 2023 at 9:29 AM UTC

Updated on

September 26, 2023 at 1:41 PM UTC

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Cainiao Smart Logistics Network Ltd., the logistics arm of Alibaba Group Holding Ltd., has filed for its Hong Kong initial public offering, potentially making it among the first of the Chinese e-commerce leader’s units to go public.

Citic Securities Co., Citigroup Inc. and JPMorgan Chase & Co. are joint sponsors of the offering, according to the preliminary prospectus posted on the stock exchange website Tuesday.