Just two days after Alibaba’s restructuring, Cainiao Network Technology, the logistics arm of the group – now an independent unit - is already seeking an IPO in Hong Kong. The company expects to go public as soon as the end of this year, according to reports from Bloomberg on Thursday.
In response to an inquiry by Jiemian News, Cainiao said that there is neither a timetable nor any clear plan for an IPO.
According to Alibaba’s financial report, Cainiao’s revenue in 2022 grew 17 percent to 23 billion yuan (US$3.3 billion).
On Tuesday, Alibaba announced a root-and-branch restructuring program that will split the company into six business units, Cainiao being one of them. The shipper is thought to be worth around US$20 billion.