Alibaba Abandons Cainiao IPO, Plans $3.75B Share Purchase Amid Global Expansion
TL;DR Summary
Alibaba Group Holding and its logistics subsidiary, Cainiao Smart Logistics Network, have withdrawn Cainiao's IPO application and proposed a $3.75 billion share purchase offer. Alibaba aims to integrate Cainiao more closely with its e-commerce platforms and temporarily halt its sourcing platform, Ling Shou Tong, for business adjustments. The company plans to elaborate on this strategic shift in a conference call and has seen its stock price decline over the past year.
- Alibaba Halts Ling Shou Tong Operations, Proposes $3.75B Cainiao Share Purchase Amid Global Expansion Plans Yahoo Finance
- Alibaba scraps IPO of logistics unit Cainiao, says it will take full ownership CNBC
- Alibaba Ditches Cainiao IPO in Final Blow to Stock Boosting Restructuring Plans Barron's
- Alibaba Stock: China E-Commerce Giant Drops IPO Plan For Logistics Arm Investor's Business Daily
- Alibaba Scraps Logistics Arm's IPO After Market Turmoil Worsens Yahoo Finance
Reading Insights
Total Reads
0
Unique Readers
1
Time Saved
2 min
vs 2 min read
Condensed
81%
380 → 71 words
Want the full story? Read the original article
Read on Yahoo Finance