The Chinese online trading giant Alibaba wants to split into six parts. This would make Alibaba a tech holding, which is rare in China. The step provides for the areas of online trading, media and cloud, which would examine capital measures or IPOs at the appropriate time, the company announced on Tuesday. The other areas are local services, logistics and entertainment. Shares rose significantly premarket in the US.
The management should include the former international retail boss and the current CEO. The step should be a signal that Alibaba is prepared to raise money on the capital market in the future, after the Chinese government has cracked down on Internet companies in some cases in recent years. Recently, the pressure had eased a bit here.