According to news from IT House on September 26, Alibaba issued an announcement on the Hong Kong Stock Exchange today that the company intends to spin off Cainiao through independent listing of Cainiao shares on the main board of the Hong Kong Stock Exchange.

It is proposed that the proposed spin-off will be conducted in the form of a global offering of Cainiao shares (including a Hong Kong public offering and an international offering), the notice said. After the proposed spin-off is completed, Alibaba will continue to hold more than 50 per cent of Cainiao, so Cainiao will remain a subsidiary of Alibaba.

It is proposed that the proposed spin-off will be conducted in the form of a global offering of Cainiao shares (including a Hong Kong public offering and an international offering), the notice said. After the proposed spin-off is completed, Alibaba will continue to hold more than 50 per cent of Cainiao, so Cainiao will remain a subsidiary of Alibaba.

It is proposed that the proposed spin-off will be conducted in the form of a global offering of Cainiao shares (including a Hong Kong public offering and an international offering), the notice said. After the proposed spin-off is completed, Alibaba will continue to hold more than 50 per cent of Cainiao, so Cainiao will remain a subsidiary of Alibaba.

Cainiao is an exempted limited company incorporated in the Cayman Islands on May 20, 2015. According to IT House, Alibaba currently holds about 69.54% of Cainiao's shares. Cainiao is an e-commerce logistics company that provides logistics services and solutions to Chinese and global merchants and brands, e-commerce platforms, consumers and logistics companies. Cainiao's main business includes international logistics, domestic logistics and technology and other services.

According to IT House, on the afternoon of March 29 this year, Zhang Yong, chairman and CEO of Alibaba Group, issued a full letter announcing the launch of organizational change. Specifically, "1" refers to Alibaba Group, "6" refers to Aliyun Intelligence, Taobao Tmall Business, Local Life, Cainiao, International Digital Commerce, and Big Entertainment six major business groups, and "N" refers to other business companies under Ali.

According to IT House, on the afternoon of March 29 this year, Zhang Yong, chairman and CEO of Alibaba Group, issued a full letter announcing the launch of organizational change. Specifically, "1" refers to Alibaba Group, "6" refers to Aliyun Intelligence, Taobao Tmall Business, Local Life, Cainiao, International Digital Commerce, and Big Entertainment six major business groups, and "N" refers to other business companies under Ali.

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