Alibaba's logistics arm plans $2 billion Hong Kong IPO.

Alibaba's logistics arm, Cainiao Network Technology, is planning to raise up to $2 billion through an IPO in Hong Kong, likely in early 2022, according to sources. The move comes after Alibaba announced in March that it would split its business into six units, with most of them exploring capital raisings or market debuts. Cainiao, which provides software and data sharing with warehouses, carriers, and logistics firms, reported $6.07 billion in revenue in the nine months ended December, accounting for 6% of Alibaba's total revenue.