Alibaba confirms Hong Kong IPO plan for logistics unit
Alibaba Group’s logistics unit has filed for an IPO in Hong Kong, potentially creating liquidity events for private equity backers such as Yunfeng Capital, Primavera Capital Group, and Princeville Global, as well as for GIC, Temasek Holdings, and Khazanah Nasional.
Alibaba owns 69.54% of Cainiao Smart Logistics Group and it expects to retain more than 50% following the spin-off via IPO, according to a filing. Guojun Shen, the founder of Chinese real estate and...
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