Cainiao, the logistics arm of tech giant Alibaba is planning to raise up to US$2 billion (6.9 billion yuan) via a listing in Hong Kong early next year, Reuters reported on Monday.
In response to Jiemian News’ inquiry, Cainiao said it “would not comment on market rumors.”
Earlier in March, Bloomberg reported Cainiao would file for an IPO in Hong Kong as early as this year. Cainiao said at the time that the company had no detailed plan nor schedule for going public.
Cainiao was founded in 2013. In its most recent quarterly report, Alibaba said Cainiao’s revenue grew 17 percent year on year to 23 billion yuan.
