: Alibaba will reorganize into 6 units in the ‘ultimate value unlock’; stock soars

by | Mar 28, 2023 | Stock Market

Alibaba Group Holding Ltd. soared after announcing it would overhaul its operations with a reorganization that the company says is “designed to unlock shareholder value” and which could lead to future initial public offerings of the various newly created units. The Chinese e-commerce giant announced Tuesday its plans to reorganize into six business groups and other investments. The six groups will have their own CEOs and boards of directors, while the overall company will still be led by Daniel Zhang, Alibaba’s BABA chairman…

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