Account Info
Log Out
English
Back
Download
Log in to access Online Inquiry
Back to the Top
avatar
Kuries wrote a post · Mar 29, 2023 22:32

BABA Outlines Independent Financing and IPO for All Divisions Except Taobao Tmall Biz

$BABA-W (09988.HK)$ held a conference call at 8am this morning to brief on the new organization and governance structure.

Chairman and CEO Daniel Zhang said that after Alibaba's reorganization into the six divisions, each division will be an independent operating company, meaning that Alibaba's role as a holding company will be more of an asset and capital operator rather than a business operator.

CFO Toby Xu said the six divisions will be able to seek independent financing, including IPO. All division except Taobao Tmall Business will seek independent financing and IPO at the appropriate time, and that the group will continue to evaluate these companies after the IPO and decide whether to remain under the control of the parent company.

Xu said Alibaba will continue to evaluate share buyback programs and monetize less strategic investments in its portfolio to improve its capital structure.

$ALIBABA GROUP HOLDING LTD (BABAF.US)$ $BABA-W (09988.HK)$ $Hang Seng TECH Index (800700.HK)$ $China Concept Stocks (LIST2517.US)$
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only. Read more
5
+0
4
Translate
Report
16K Views
Comment
Sign in to post a comment
avatar
Kuries
619Followers
6Following
3873Visitors
Follow