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Alibaba to split into six units, likely to pursue separate IPOs

World

28-03-2023 | 06:15

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Alibaba to split into six units, likely to pursue separate IPOs

Alibaba Group Holding Ltd (9988.HK) is planning to split its business into six main units covering e-commerce, media and the cloud, the company said on Tuesday, adding that each of the unit will explore fundraising or initial public offerings.

US-listed shares of Alibaba rose 3.5% in trading before the bell.

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