Alibaba withdraws Cainiao IPO, buys remaining stake for up to $3.75B.

Alibaba Group has withdrawn its planned IPO for its logistics unit, Cainiao, and will instead buy the remaining 36% stake for up to $3.75 billion. The Chinese e-commerce firm will offer minority shareholders an opportunity to sell their shares for $0.62 each. Alibaba had previously announced plans to list Cainiao in Hong Kong, but has now decided to double down on its global logistics network.

March 26, 2024
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