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Alibaba plans to spin off Cainiao and list it independently on the main Board of the Hong Kong Stock Exchange

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On the evening of September 26, Alibaba announced on the Hong Kong Stock Exchange that it intends to spin off Cainiao through the independent listing of Cainiao shares on the Main Board of the Hong Kong Stock Exchange. Upon completion of the proposed spin-off, Alibaba will continue to hold more than 50% of Cainiao's shares and, as such, Cainiao will remain a subsidiary of the Company.
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