Alibaba Group Holding’s e-commerce logistics arm has filed an preliminary prospectus for an preliminary public providing in Hong Kong.
Cainiao Smart Logistics Network has appointed Citigroup, Citic Securities and J.P. Morgan as joint sponsors for the providing, in keeping with the prospectus filed Tuesday.
Cainiao was based by Alibaba
BABA,
9988,
and different companions in 2013 to supply logistics companies for patrons and sellers on the Chinese firm’s e-commerce platforms.
The firm’s suppliers primarily embrace service suppliers for line-haul transportation and categorical supply, primarily from China.
Cainiao’s income for the third quarter ended June rose 34% on 12 months to 23.16 billion yuan ($3.17 billion).
The firm intends to make use of the proceeds from the deliberate providing for enterprise enlargement and acquisitions, the prospectus confirmed.
Source web site: www.marketwatch.com
