FilingReader Intelligence
Alibaba proposes spin-off of Banma Network Technology
August 20, 2025 at 10:09 PM UTC•By FilingReader AI
Alibaba Group has submitted a spin-off proposal for Banma Network Technology Co., seeking a listing on the Hong Kong Stock Exchange's Main Board.
Alibaba currently holds approximately 44.72% of Banma and will retain over 30% after the proposed spin-off via a global offering. The move aims to enhance Banma's value recognition and secure independent capital access.
The spin-off remains subject to regulatory approvals.
This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com
HKEX:9988•Hong Kong Exchange
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