The document, which confirmed an earlier Bloomberg report on the timing of Cainiao’s filing, didn’t provide details of the offering terms. The first-time share sale could raise at least US$1 billion, people familiar with the matter have said.
Cainiao Smart Logistics Network, the logistics arm of Alibaba Group Holding, has filed for its Hong Kong initial public offering, potentially making it among the first of the Chinese ecommerce leader’s units to go public.
Citic Securities Co, Citigroup Inc and JPMorgan Chase & Co are joint sponsors of the offering, according to the preliminary prospectus posted on the stock exchange website Tuesday.
