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Tuesday, May 14, 2024

Alibaba logistics arm files for $1bn IPO

Cainiao first unit to go public since e-commerce giant announced plans to split up

Signage of Cainiao Smart Logistics Network Ltd is seen outside its industrial park in Jinhua in Zhejiang province of China. (Photo: Reuters)

The logistics arm of Alibaba Group Holding Ltd has filed for an initial public offering in Hong Kong, potentially making it among the first of the Chinese e-commerce leader’s units to go…

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