SHANGHAI/NEW YORK -- Chinese e-commerce giant Alibaba Group Holding intends to list its Cainiao logistics business on the Hong Kong Stock Exchange, the company said Tuesday, reportedly with plans to raise at least $1 billion through the initial public offering.
Cainiao Smart Logistics Network is the first Alibaba unit to file for an IPO since the group's major restructuring, announced in March, to split into six separate businesses and pursue public listings for five of them.
