Cainiao Network Technology, the logistics arm of Alibaba Group Holding, has started preparations to become the first of the tech giant's six units to go public, Caixin learned from multiple market participants.
Cainiao is in talks with banks for an initial public offering in Hong Kong, the sources said. Several investment banks including China International Capital Corp. expressed interest in underwriting Cainiao's share sale, these people told Caixin.
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