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Alibaba | 6-K: Alibaba Group Announces Withdrawal Of Cainiao Ipo Application And Proposal To Acquire All Outstanding Shares From Cainiao Minority Shareholders

SEC announcement · Mar 26 06:43

BABA +0.88%

Summary by Moomoo AI

Alibaba Group Holding Limited announced the withdrawal of its logistics subsidiary Cainiao's IPO application on the Hong Kong Stock Exchange. Concurrently, Alibaba has proposed to acquire all outstanding shares of Cainiao from minority shareholders, including employees, at a price of $0.62 per share, amounting to a total consideration of up to $3.75 billion. Alibaba currently holds approximately 63.7% of Cainiao's fully-diluted equity interest. The completion of this offer is expected to facilitate strategic alignment between Cainiao and Alibaba's other business segments, such as Taobao, Tmall Group, and Alibaba International Digital Commerce Group, and support Cainiao's long-term global logistics network expansion. Alibaba will host a conference call on March 26, 2024, to discuss these developments. The announcement also contains forward-looking statements and specifies that the information is for informational purposes only, not constituting an offer to buy or sell securities.

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