Alibaba to apply for spin-off listings for Cainiao, Hema as soon as Q3 – report

 

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Alibaba Group will apply for the spin-off listings for its logistics unit Cainiao and supermarket chain unit Hema as soon as third quarter of 2023, according to IFR.

Cainiao has hired Citigroup, CITIC Securities and JPMorgan to handle relevant works related to the proposed listing, and is anticipated to raise $1.5 – 2 billion through the IPO, according to the report.

Hema has hired CICC and Morgan Stanley to arrange relevant listing-related works and is aiming for a listing valuation of $4 – 5 billion, according to IFR report. 

Earlier report by the Hong Kong Economic Times had said that Hema will file a listing within the coming two weeks at the earliest and will go public in November 2023.