Alibaba Group Cainiao IPO Update and Share Purchase Offer Conference Call

HANGZHOU, China--(BUSINESS WIRE)--Alibaba Group Holding Limited (NYSE: BABA and HKEX: 9988 (HKD Counter) and 89988 (RMB Counter), “Alibaba” or “Alibaba Group”) announced that its logistics subsidiary Cainiao Smart Logistics Network Limited (“Cainiao”) has withdrawn its initial public offering and listing application on the Hong Kong Stock Exchange. At the same time, Alibaba Group plans to offer to minority shareholders of Cainiao (including employees) an opportunity to sell all of the outstandi