Alibaba to spin off T-Head chip unit for Hong Kong listing
Briefing by News4U · First published
Sina Finance reported that Alibaba announced on November 10 it will spin off its T-Head chip unit for an independent listing on the Hong Kong exchange main board; T-Head filed confidentially on September 11. Baidu’s Kunlunxin filed confidentially in January and began ChiNext tutoring in May. Alibaba said the move will let investors value T-Head separately and give it direct access to equity and debt markets. Morgan Stanley estimated T-Head could be worth $25-62 billion and Kunlunxin $40-49 billion. Both firms will retain control of the units after listing. [1]
Sources
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Sina Finance · · Full text