Alibaba logistics unit Cainiao drops IPO plans

2024-03-28T12:38:00

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Alibaba announced that its logistics subsidiary Cainiao Smart Logistics Network Limited has withdrawn its initial public offering and listing application on the Hong Kong stock exchange. The Chinese online retailer plans to offer minority shareholders of Cainiao, including employees, the possibility to sell all their shares for $0.62 per share, ...

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