Alibaba logistics arm eyes up to $2 billion Hong Kong IPO: Reports

Alibaba’s logistics arm goals to lift as much as $2 billion through a list in Hong Kong possible early subsequent yr, sources with data of the matter mentioned, bolstering hopes for a capital markets revival within the Asian monetary hub.

Cainiao Network Technology’s preliminary public providing (IPO) plan comes after Alibaba flagged in late March it could cut up its business into six models and that almost all of them would discover capital raisings or market debuts to assist fund future progress.

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

The deliberate IPO, the dimensions of which has not been reported earlier than, is prone to be launched in early 2024, two of the sources mentioned.

The sources cautioned that the plans should not finalised but and stay topic to modifications.

Cainiao mentioned it could not touch upon market hypothesis.

Alibaba didn’t reply to a request for remark.

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