Alibaba Group Holding Limited (“Alibaba” or “Alibaba Group”) announced that its logistics subsidiary Cainiao Smart Logistics Network Limited (“Cainiao”) has withdrawn its initial public offering and listing application on the Hong Kong Stock Exchange. At the same time, Alibaba Group plans to offer to minority shareholders of Cainiao (including employees) an opportunity to sell all of the outstanding shares of Cainiao held by them to Alibaba Group for US$0.62 per share, representing a total consideration of up to US$3.75 billion (the “Offer”). Cainiao shareholders may choose to accept the Offer and sell their shares to Alibaba Group for cash consideration or continue to own Cainiao shares. Alibaba Group owns approximately 63.7% of the fully-diluted equity interest in Cainiao (including vested equity interests under Cainiao’s employee share ownership plan).
Alibaba Group Announces Withdrawal Of Cainiao IPO Application And Proposal To Acquire All Outstanding Shares From Cainiao Minority Shareholders
Company Profile
Tue. 26 Mar 2024, 6:33am ET
Benzinga
M&A, News, Offerings, IPOs