Alibaba logistics arm Cainiao gears up to go first in Hong Kong IPO plans

Alibaba logistics arm Cainiao gears up to go first in Hong Kong IPO plans

The logo of Alibaba Group is seen during Alibaba Group's 11.11 Singles' Day global shopping festival at the company's headquarters in Hangzhou, Zhejiang province, China, November 10, 2019. REUTERS/Aly Song

Cainiao Network Technology, the logistics arm of Alibaba Group Holding Ltd, has started preparations to become the first of the tech giant’s six units to go public, Caixin learned from multiple market participants.