Seven weeks after Alibaba announced its historic restructuring plan to split itself into six independent companies, the juggernaut is gearing up to spin off its intelligence group.
Alibaba went public in New York back in 2014, marking the largest IPO at the time. Not long after Hong Kong relaxed rules around dual-class structures, which allow founders to retain certain control while opening the company to outside investment, in 2019, Alibaba sought a secondary listing in the city. Rising tensions between the U.S. and China also prompted many Chinese companies to retreat from the Nasdaq and NYSE in recent years.
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