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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

 

Simpson Thacher & Bartlett and Fangda Partners are advising the Alibaba Group and its logistics arm, Cainiao Smart Logistics Network, on Cainiao’s proposed IPO on the Hong Kong Exchange, with Freshfields Bruckhaus Deringer and Jingtian & Gongcheng acting for the sponsors.

The IPO is part of Alibaba’s restructuring plan, Reuters reported, adding that Alibaba, which currently holds a 69.54 percent stake in Cainiao, will continue to hold more than 50 percent of shares in the logistics unit after the spin-off.

Alibaba has not disclosed the value it aims to raise, but it is expected to be more than $1 billion, according to media reports.

 

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