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Alibaba Team Holding’s e-commerce logistics arm has filed an preliminary prospectus for an initial public supplying in Hong Kong.
Cainiao Sensible Logistics Network has appointed Citigroup, Citic Securities and J.P. Morgan as joint sponsors for the presenting, according to the prospectus submitted Tuesday.
Cainiao was launched by Alibaba
BABA,
9988,
and other companions in 2013 to offer logistics products and services for buyers and sellers on the Chinese company’s e-commerce platforms.
The company’s suppliers generally contain assistance suppliers for line-haul transportation and categorical shipping and delivery, generally from China.
Cainiao’s profits for the 3rd quarter ended June rose 34% on year to 23.16 billion yuan ($3.17 billion).
The organization intends to use the proceeds from the planned offering for company enlargement and acquisitions, the prospectus showed.
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