Search
Alibaba announced on August 21 its plans to spin off Zebra Network Technology Co., Ltd. (Zebra Intelligence), a specialist in smart car solutions, for an independent listing on the Hong Kong Stock Exchange's main board. Zebra Intelligence has officially submitted its listing application to the Hong Kong Stock Exchange, with Deutsche Bank, CICC, and Guotai Junan International acting as joint sponsors. The capital raised will be allocated to bolster R&D investments, enhance market share in China, expand into international markets, facilitate business acquisitions and expansion strategies, and augment operating funds.
Post-spin-off, Alibaba will maintain a significant stake in Zebra Intelligence, currently holding approximately 44.72% of the company's shares and expected to retain over 30% post-listing.
-
C114 Communication Network -
Communication Home
