China’s Alibaba kicks off restructuring with plan to list logistics arm in Hong Kong

News Snapshot:

[1/2] People visit the booth of Alibaba's logistics unit Cainiao at the 2021 China International Fair for Trade in Services (CIFTIS) in Beijing, China September 3, 2021. REUTERS/Florence Lo Acquire Licensing Rights Sept 26 (Reuters) - Alibaba Group (9988.HK) on Tuesday kicked off its restructuring with a plan to list its logistics arm Cainiao in Hong Kong that would make the unit the first to be separated since the Chinese e-commerce giant announced its break-up six months ago. Alibaba said on Tuesday it had submitted an application to spin off Cainiao Smart Logistics Network to the Hong Kong stock exchange,...