SHANGHAI, March 26 (Reuters) - Alibaba ( BABA ) said on
Tuesday it would shelve plans to list its logistics arm, the
latest twist in the Chinese e-commerce giant's restructuring
efforts since embarking on the biggest shake-up in its history a
year ago.
Here's a timeline of what has happened since Alibaba ( BABA ) said it
would break up into six business groups:
MARCH 28, 2023: Alibaba ( BABA ) announces the biggest restructuring
in its 24-year history, saying it will split into six units and
explore fundraising or listings for most of them.
MAY 18, 2023: Alibaba ( BABA ) says it will spin off and list its
cloud unit within the next 12 months. It will seek external
financing for Alibaba International Digital Commerce Business
Group and list its grocery arm Freshippo.
In addition, its logistics unit Cainiao will explore an IPO
in the next 12-18 months.
JUNE 20, 2023: Alibaba ( BABA ) said then-CEO and chairman Daniel
Zhang would step down to focus on the cloud division.
Eddie Yongming Wu, chairman of Alibaba's ( BABA ) Taobao and Tmall
Group took over as CEO, while executive vice chairman Joseph
Tsai took over as chairman.
SEPT 10, 2023: Zhang quits the cloud business in a surprise
move and Wu takes over the unit.
SEPT 26, 2023: Alibaba ( BABA ) submits application to list Cainiao
Smart Logistics Network on the Hong Kong Stock Exchange.
NOV 16, 2023: Alibaba ( BABA ) scraps plans to spin off its cloud
business, citing uncertainties created by U.S. export curbs on
chips used in artificial intelligence applications.
DEC 20, 2023: CEO Wu moves to directly oversee its domestic
e-commerce arm, a core area for attention and investment as it
fends off competition from low-priced rivals like PDD Holdings
Pinduoduo.
FEB 8: Chairman Tsai tells analysts it "makes sense" to exit
some of the traditional physical retail businesses on its
balance sheet, "but it will take time due to challenging market
conditions".
MARCH 26: Alibaba ( BABA ) shelves plans to list Cainiao, says it
will buy the rest of the stock it does not own in the logistics
unit for up to $3.75 billion.