Alibaba Logistics Division Likely To Mark Its IPO, Eyes $2B Hong Kong Listing - Alibaba Gr Holding (NYSE:BABA)

Alibaba Group Holding Limited's BABA logistics arm aims to raise $2 billion via a listing in Hong Kong in early 2024.
Cainiao Network Technology, which has started work on the IPO, is looking to raise between $1 billion - $2 billion in Hong Kong, Reuters reports.
Cainiao's initial public offering plan follows Alibaba's plans to split its business into six units.
Alibaba, which acts as a massive online marketplace for buyers and sellers, has, in past years, picked up stakes in top express delivery players to ensure reliable services for the group.
Alibaba co-founded Cainiao in 2013 with partners, taking control four years later, and has lifted its stake to 67% from 47%.
Cainiao, which provides software and shares data with warehouses, carriers, and logistics firms, accounted for 6% of Alibaba's total revenue.
Analysts expected Alibaba's revamp to ease the regulatory scrutiny over Chinese billionaire Jack Ma's sprawling business empire.
Alibaba's other five units include Cloud Intelligence, Taobao Tmall Commerce, Local Services, Global Digital Commerce, and Digital Media and Entertainment.
The Hong Kong IPO reflects Alibaba's proximity to the home market amid Sino-U.S. tensions.
Craig Coben, the former head of Bank of America's Asia-Pacific capital markets business, cautioned against valuation challenges despite international demand for the assets.
Price Action: BABA shares traded higher by 0.10% at $83.80 premarket on the last check Monday.