Frishibo, responsible for the Alibaba Group’s Chinese grocery chain, announced the preparation of an initial public offering in Hong Kong.
The size of the company’s IPO and target evaluation is still under consideration, but in January last year the company planned to raise funds at an estimated $10 billion valuation.
On the one hand, China’s Alibaba Group is preparing to make some changes to its current business model, and instead of operating as one company, the group will be divided into six companies.
These premium companies will seek to raise funds and keep pace with the market. China mitigates the liability of the economy to private giants. The company now wants to take advantage of this opportunity.
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