Home ยป Alibaba’s Logistics Entity, Cainiao Network, Readies to File for Stock Market Entry in Hong Kong

Alibaba’s Logistics Entity, Cainiao Network, Readies to File for Stock Market Entry in Hong Kong

According to Bloomberg, Alibaba is preparing to take its subsidiary company, Cainiao Network Technology, which oversees the logistics business, IPO in Hong Kong. The filing is expected to be submitted within the next week, potentially making Cainiao the first Alibaba subsidiary to go public. As part of Alibaba’s plan to separate its businesses into six different entities, this move comes after their previous plan to bring Freshippo, their supermarket business, to the Hong Kong stock market was postponed due to underwhelming consumer numbers in China.

Cainiao, founded in 2013 with Alibaba as one of its co-founders, initially handled shipping for various e-commerce businesses in China. Alibaba then acquired the entire operation, and Cainiao expanded its delivery services globally to support both AliExpress and Lazada. Currently, Cainiao has over 300 main shipping routes and partners with more than 3,000 carriers worldwide.

In conclusion, Alibaba is gearing up to launch an IPO for Cainiao, their logistics subsidiary, in Hong Kong. This move comes after their previous plan to bring Freshippo to the stock market was delayed. Cainiao, which started as a shipping service provider for Chinese e-commerce, has now expanded its reach globally, servicing multiple partners and operating a vast network of shipping routes.

TLDR: Alibaba is preparing to take Cainiao, its logistics subsidiary, public in Hong Kong. This comes after the delay of bringing Freshippo, Alibaba’s supermarket business, to the stock market. Cainiao, initially handling shipping for Chinese e-commerce, now operates on a global scale, with over 300 shipping routes and partnerships with over 3,000 carriers.

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