Simpson Thacher & Bartlett and Freshfields Bruckhaus Deringer, along with Chinese law firms Jingtian & Gongcheng and Fangda Partners, as well as offshore firm Harneys, are involved in advising the Hong Kong initial public offering (IPO) of Cainiao Smart Logistics Network. This firm is the logistics subsidiary of Alibaba Group, the Chinese e-commerce titan.
While final financial details of the forthcoming Cainiao listing have not been determined, it’s estimated to be valued between $1 and $2 billion, as reported by Reuters. Citigroup, JP Morgan, and Citic Securities are serving as joint sponsors on the IPO, detailed in a preliminary prospectus filed with the Hong Kong Stock Exchange as of September 18.
The listing of Cainiao comes half a year after a significant restructuring of Alibaba, the biggest reorganisation since the company’s creation over two decades ago. For further information, refer to the original article on Law.com.