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Hema Fresh completed its spin-off listing in November
Release Date:
2023-06-26
On June 26, Hong Kong media reported that Alibaba's new retail platform, Hema Fresh, will complete its listing in November. In response, Hema Fresh told The Paper that it would not comment.
On June 26, Hong Kong media reported that Hema Fresh, Alibaba's new retail platform, will complete its IPO in November. In response, Hema Fresh told The Paper that it would not comment.
According to Hong Kong Economic Journal, Hema Fresh, a data and technology-driven new retail platform under Alibaba, is stepping up preparations for its IPO, aiming to apply for a spin-off listing within the next two weeks, in accordance with Listing Rule 15 (PN15). This would be the first company to complete an IPO after Alibaba's restructuring and spin-offs.
On the evening of May 18, Alibaba Group announced that, if progress is smooth, Alibaba Cloud will be fully spun off from Alibaba Group and pursue an independent IPO within the next 12 months. Cainiao and Hema will launch IPO plans, with the former expected to be completed within the next 12 to 18 months and the latter within the next 6 to 12 months. Alibaba's International Digital Commerce Group will also initiate external financing to support its rapid expansion in global markets.
In March this year, Daniel Zhang, Chairman and CEO of Alibaba Group, issued a letter to all employees announcing the launch of the "1+6+N" organizational restructuring. Under Alibaba Group, six business groups will be established: Alibaba Cloud Intelligence, Taobao Tmall Commerce, Local Life, Cainiao, International Digital Commerce, and Digital Media and Entertainment, as well as multiple business companies. Business groups and companies that meet the conditions will have the possibility of independent financing and IPOs. Following this organizational restructuring, Alibaba Group will fully implement a holding company management structure.
Keywords:
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