Alibaba said Tuesday that it would spin off Cainiao, its logistics arm, in what will be the conglomerate’s first initial public offering since it announced a sweeping revamp of its business earlier this year.
But Indonesia, a collection of islands with a big population and a fast-growing economy, sits on vast deposits of the metals needed to make batteries for electric vehicles. That has made the country an important engine of the global green transition and a magnet for investors, CNN reported.The
Indonesia has overtaken Hong Kong long one of the top IPO markets for the first time since 1995, and is outpacing economic powerhouses India, South Korea and Japan.