Alibaba Group Holding Limited (NYSE:BABA) and its logistics subsidiary, Cainiao Smart Logistics Network Limited, announced the withdrawal of Cainiao’s initial public offering and listing application on the Hong Kong Stock Exchange. Concurrently, Alibaba Group has proposed an offer to Cainiao’s minority shareholders, including its employees, allowing them to sell their shares to Alibaba Group at $0.62 per share, valuing the total consideration at up to $3.75 billion. Shareholders can accept this
Alibaba Group and its logistics subsidiary, Cainiao, have withdrawn their IPO application and offered to buy back shares from minority shareholders for up to $3.75B. Integration with e-commerce platforms planned. LST temporarily halted.