Alibaba’s Logistics Arm Files for $1 Billion-Plus IPO

(Bloomberg) — Cainiao Smart Logistics Network Ltd., the logistics arm of Alibaba Group Holding Ltd., filed for an initial public offering in Hong Kong, potentially making it among the first of the Chinese e-commerce leader’s units to go public.

Citic Securities Co., Citigroup Inc. and JPMorgan Chase & Co. are joint sponsors of the offering, according to the preliminary prospectus posted Tuesday on the stock exchange website.