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Hema Fresh completed its spin-off listing in November
Jun 26,2023
On June 26, Hong Kong media reported that Hema Fresh, Alibaba's new retail platform, is expected to go public in November. In response, Hema Fresh told The Paper that it would not comment.
According to Hong Kong Economic Journal, Hema Fresh, a data and technology-driven new retail platform under Alibaba, is stepping up preparations for its IPO, aiming to apply for a spin-off listing within the next two weeks, in accordance with Listing Rule Application Note 15 (PN15). This would be the first company to go public after Alibaba's restructuring and spin-off.
On the evening of May 18, Alibaba Group announced that, if progress is smooth, Alibaba Cloud will be fully spun off from Alibaba Group and go public within the next 12 months. Cainiao and Hema will launch IPO plans, with the former expected to complete within the next 12 to 18 months and the latter within the next 6 to 12 months. Alibaba's International Digital Commerce Group will also seek external funding to support its rapid expansion in global markets.
In March this year, Daniel Zhang, Chairman and CEO of Alibaba Group, issued a letter to all employees announcing the launch of the "1+6+N" organizational reform. Under Alibaba Group, six business groups will be established: Alibaba Cloud Intelligence, Taobao Tmall Commerce, Local Life, Cainiao, International Digital Commerce, and Digital Media and Entertainment, as well as numerous business companies. Business groups and companies that meet the conditions will have the possibility of independent financing and listing. Following this organizational restructuring, Alibaba Group will fully adopt a holding company management model.
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