Alibaba announces proposed spin-off and separate listing of T-Head
BABA•Alibaba said it may proceed with a proposed spin-off of T-Head through a global offering of T-Head H shares. T-Head is expected to remain an Alibaba subsidiary; the size and structure are not final and the spin-off remains subject to regulatory approvals.
1. Proposed listing
Alibaba said the Hong Kong Stock Exchange confirmed it may proceed with the proposed T-Head spin-off and separate listing, to be effected through a global offering of T-Head H shares. T-Head is expected to remain a subsidiary of Alibaba after the spin-off.
2. Approvals pending
The size and structure of the spin-off have not been finalized. The transaction is subject to approvals from the Hong Kong Stock Exchange and China Securities Regulatory Commission.
