Alibaba Cloud mulling non-public funding round from state-owned companies before spin-off – report 

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Alibaba Cloud is mulling a non-public round of financing from Chinese state-owned enterprises before spinning off for a Hong Kong IPO, Bloomberg News reported on Monday. 

Alibaba is working with advisers on potential financing for its cloud-intelligence business, which could raise about 10 – 20 billion yuan ($1.4-2.8 billion), and potential investors include state-owned telecom operators, the report said. 

Consideration is still at a preliminary stage, with the financing details such as scale and timing subject to changes, it added.