Monday, July 22, 2024

Alibaba ups stake in Cainiao Smart Logistics

Alibaba Group will invest $3.3 billion to increase its equity stake in Cainiao Smart Logistics Network from 51% to 63%. The increased equity stake will come from newly issued ordinary shares in its latest financing round and purchasing certain equity interest from an existing Cainiao shareholder. With more financial resources, Cainiao will continue to invest […]