Alibaba Group's logistics arm, Cainiao Network Technology, is set to raise up to $2 billion through a listing in Hong Kong early next year, raising hopes of a strong capital markets recovery in the Asian financial center.
The company's plan for an initial public offering (IPO) was unveiled after Alibaba Group announced a major restructuring and a six-part split of its business early last month. The company has reportedly raised about $1.5 billion this year, more than it raised in the same period last year.
Our experts say the upcoming IPO of Cainiao Network Technology, which is likely to be followed by market debuts of other Alibaba units, could significantly revive the stagnant capital market in Hong Kong in the near term. Alibaba's subsidiaries will definitely be on the radar of major global investors for some time to come, even though their assets are difficult to value.
The company's plan for an initial public offering (IPO) was unveiled after Alibaba Group announced a major restructuring and a six-part split of its business early last month. The company has reportedly raised about $1.5 billion this year, more than it raised in the same period last year.
Our experts say the upcoming IPO of Cainiao Network Technology, which is likely to be followed by market debuts of other Alibaba units, could significantly revive the stagnant capital market in Hong Kong in the near term. Alibaba's subsidiaries will definitely be on the radar of major global investors for some time to come, even though their assets are difficult to value.