Alibaba’s logistics arm goes for IPO

🚚 Meet Cainiao: The logistics company is the largest provider of cross border ecommerce in the world and serves as Alibaba’s fulfillment partner, managing a global fulfillment system that aims to soon offer 1 day shipping in China and 3 days for global.

📦️ Bigger and Better - Part of Alibaba’s new strategy is to have its groups file for their own IPOs. Cainiao’s IPO is an effort to further boost its already impressive global logistics network and delivery efficiency.

Here’s some quick numbers on Cainiao’s IPO:

• 🔻 Alibaba will reduce its stake from 70% to 50% (Source: CNN)

• 📈 Revenues are up 34% compared to the same period in June 2022 (Source: CNN)

• 🏦 Joint sponsors include CITIC Securities, Citibank and JPMorgan (Source: China Daily)

• 🪙 Share sale is reported to be $1B (Source: South China Morning Post)