Alibaba's Cainiao Seeks to Raise at Least $1 Billion in Hong Kong IPO, Bloomberg Reports

--Cainiao Network Technology, the logistics unit of Alibaba Group, intends to file for its Hong Kong initial public offering as early as next week, Bloomberg reports, citing people familiar with the matter.

--Cainiao seeks to raise at least $1 billion in the IPO, although it is still early to determine the valuation, Bloomberg reports, citing the people, who asked not to be identified.

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(END) Dow Jones Newswires

09-22-23 0617ET