Alibaba to float internet infrastructure unit in the US

HiChina, which is 85% owned by Hong Kong-listed Alibaba.com, may seek to raise up to $150 million and has hired Credit Suisse and Morgan Stanley to help with the spin-off, sources say.

Alibaba to float internet infrastructure unit in the US
Jack Ma, the founder of Alibaba group (AFP)

Alibaba.com, the provider of China’s leading online trading platform, has hired Credit Suisse and Morgan Stanley to help it spin off its partially owned HiChina Group unit for a separate listing in the US, according to sources.

Hong Kong-listed Alibaba.com said in a statement earlier this week that HiChina’s offering documents are currently under review by the relevant securities regulatory authority in the US and sources added yesterday that the company...

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