TECH - Alibaba's Latest Spinoff - What's Going On? | Benzinga
Alibaba Group Holding Limited (NYSE: BABA) stock is trading lower Tuesday in line with the broader indexes IShares China Large-Cap ETF (NYSE: FXI) and KraneShares Trust KraneShares CSI China Internet ETF (NYSE: KWEB) amid concerns over the country's property sector.
Alibaba disclosed its intention to spin off Cainiao by way of a separate listing of the Cainiao Shares on the Hong Kong Stock Exchange.
Cainiao Smart Logistics Network Limited, formerly known as China Smart Logistics Network, is a Chinese logistics company launched by ...