Alibaba proposed a spin-off and separate listing of Banma Network Technology.
Banma is seeking a separate listing of its shares on the main board of the Hong Kong Stock Exchange.
Alibaba confirmed Banma seeks a separate listing on HKEX.
Alibaba will continue to hold over 30% of shareholdings in Banma.
Details of the proposed spin-off have not yet been finalized.
Alibaba plans Hong Kong spin-off of Banma Network Technology
- Alibaba is pursuing a separate listing of Banma in Hong Kong while retaining over 30% ownership; details are still being finalized.
