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

CTOnews.com October 4 news, Cainiao Wisdom Logistics Network Co., Ltd. announced on the Hong Kong Stock Exchange today that Morgan Stanley Asia Limited has been further appointed as the overall coordinator of its listed IPO on the basis of its announcement on September 26, 2023.

In the announcement on the official website of ▲ Tuyuan Cainiao on September 26, Cainiao Wisdom Logistics Network Co., Ltd. formally submitted an application for listing to the Hong Kong Stock Exchange. The co-sponsors are Citigroup, Citic Securities and JPMorgan Chase, which is also the overall coordinator of the company's listing.

According to the prospectus previously submitted by Cainiao, the company's total revenue in fiscal 2023 was 77.8 billion yuan, with a compound growth rate of 21% in the past three years. Adjusted EBITDA (profit before tax, interest, depreciation and amortization) exceeded 2.8 billion yuan in fiscal year 2023. Cainiao's board of directors consists of eight directors, including two executive directors, three non-executive directors and three independent non-executive directors. Among them, Alibaba Cai Chongxin is the chairman of the board, and other members include senior executives of Alibaba, such as Dishan, Jiang Fan, Wan Lin and so on.

Screenshot of ▲ Cainiao announcement on September 26 Alibaba announced on the Hong Kong Stock Exchange last month that the company plans to spin off Cainiao by listing Cainiao shares independently on the main board of the Hong Kong Stock Exchange, according to CTOnews.com.

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.

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