Chinese E-Commerce Giant Alibaba’s Decision To Cancel Cainiao IPO
The company identified as Alibaba Group Holding Ltd called off the IPO for its Cainiao logistics arm, shelving a highly anticipated debut that had the chance to raise more than $1 billion. The decision of Alibaba came after watching the poor market conditions. However, no official words regarding the withdrawal have come fore at the moment. People who are familiar with the matter said that China’s e-commerce pioneer has lost its interest in the deal this year as stock waned.
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