Alibaba to spin-off logistics arm via separate listing in HKEX

Post-spin-off, Alibaba will still hold more than 50% of the shareholdings in Cainiao. 

Alibaba has unveiled plans to spin off its logistic arm Cainiao and list it on the mainboard of the Hong Kong Stock Exchange (HKEX).

In a bourse filing, Alibaba will conduct its proposed spin-off by way of a global offering of Cainiao’s shares, comprising the HK public offering and the international offering.

Alibaba said Cainiao will remain as its subsidiary given that it will still hold more than 50% of the shareholdings in the latter post-spin-off.

“The proposed spin-off is subject to, among other things, the obtaining of approval from the Listing Committee of the Hong Kong Stock Exchange for a listing of, and permission to deal in, the Cainiao Shares, the completion of the filing with the China Securities Regulatory Commission for the listing and offering of Cainiao Shares and the final decisions of the Board and the board of directors and shareholders of Cainiao, as applicable,” Alibaba said.

“Shareholders and potential investors of the Company should be aware that there is no assurance that the Proposed Spin-off will take place or as to when it may take place. Shareholders and potential investors of the Company should therefore exercise caution when dealing in or investing in the securities of the Company,” Alibaba added.