Alibaba intends to spin-off Cainiao by way of separate listing

Alibaba announced that the company intends to spin-off Cainiao by way of a separate listing of the Cainiao Shares on the Main Board of the Hong Kong Stock Exchange. The company submitted a spin-off proposal to the Hong Kong Stock Exchange and the exchange has confirmed that the company may proceed with the proposed spin-off, Alibaba said in a statement. Upon completion of the spin-off, the company will continue to hold more than 50% of the shareholdings in Cainiao and therefore Cainiao will remain as a subsidiary of Alibaba.