Alibaba Scraps Cainiao IPO Plans Due to Market Challenges
Tuesday, 26 March 2024, 10:36
Alibaba Group Holding Ltd. Cancels Cainiao's IPO
Alibaba has officially announced the cancellation of the long-awaited IPO of its logistics arm Cainiao in Hong Kong.
Market Challenges Lead to Decision
In light of the current market downturn, Alibaba has made the strategic decision to shelve the IPO, which was anticipated to generate over $1 billion.
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