Alibaba Shares Soar After Historic Overhaul Heralds IPO Wave

  • It will regroup along six main business lines with new CEOs
  • The overhaul is Alibaba’s biggest since its founding years ago
Alibaba Splits Into Six Businesses in Historic Overhaul
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Alibaba Group Holding Ltd.’s US shares closed 14.3% higher after China’s online commerce leader announced plans to split its $220 billion empire into six business units, a major restructuring that promises to yield several initial public offerings.

The move frees up the Chinese company’s main divisions from e-commerce and media to the cloud to operate with far more autonomy, laying the foundation for future spinoffs and market debuts.