: Alibaba’s Cainiao logistics unit prepping for Hong Kong IPO: report
Alibaba Group Holding Ltd.’s BABA Cainiao logistics unit has started to prepare for an initial public offering in Hong Kong that could occur as soon as the end of this year, Bloomberg News reported Thursday. The report comes after Alibaba disclosed earlier this week plans to reorganize into six business groups that would have the flexibility to raise capital or pursue their own IPOs. The Bloomberg story cited multiple unnamed sources, who said that Cainiao is valued at upwards of $20 billion. Alibaba didn’t immediately respond to a MarketWatch request for comment on Cainiao’s IPO plans or valuation. Alibaba’s U.S.-listed shares were ahead more than 4% in Thursday’s midday action, after rising 1.5% in Wednesday’s session and surging more than 14% Tuesday, the day Alibaba announced the reorganization.
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