Shulou(Shulou.com)11/24 Report--

Thanks to CTOnews.com netizen MissBook for the clue delivery! On the evening of March 30, Beijing time, a number of people familiar with the matter said today that Cainiao Network Technology Co., Ltd., the logistics department of Alibaba Group, has begun to work with banks to prepare for the IPO (initial public offering) in Hong Kong. In response, the rookie responded to the Penbai News: there is no clear plan and timetable at present.

If Cainiao comes to Hong Kong IPO, the move is expected to make Cainiao Network the first listed business unit among Alibaba's six major business units.

Recently, Alibaba has just announced the launch of the "116N" organizational change, that is, it will be reorganized into six main business units, namely Aliyun Intelligence, Taobao Tmall Commerce, Local Life, Cainiao Network, International Digital Business and Big Entertainment. Each business unit can carry out financing and IPO when ready.

Banks, including China International Capital Corporation and Citigroup, are working with Cainiao to prepare for an initial share sale, these people said. Cainiao aims to go public as early as the end of this year, according to one of the people familiar with the matter. Cainiao is currently valued at more than $20 billion, according to people familiar with the matter.

At present, Cainiao Network has not yet determined the size of IPO, and the schedule may change according to market conditions. In response, a representative of Cainiao Network said that the company did not have a clear IPO plan and timetable. A representative of Citigroup declined to comment, while a representative of China International Capital Corporation has yet to comment.

For its six major business units, Zhang Yong, CEO of Alibaba Group, said on a conference call on Thursday that each business would explore financing or IPO at an appropriate time, but declined to give a specific timetable for IPO. In addition, Alibaba will also consider gradually relinquishing control over some major businesses.

According to the official website, Cainiao promised to deliver the package to any corner of the country within 24 hours and anywhere in the world within 72 hours. As of March 2022, Cainiao Network directly operates nine overseas sorting centers and has established partnerships with more than 500 logistics companies around the world.

Excluding interdepartmental business, Cainiao's revenue for the quarter ended December 31 was 16.6 billion yuan ($24), up 27% from a year earlier.

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