Alibaba proposed a spin-off and separate listing of Banma Network Technology.
Banma is seeking a separate listing of its shares on the main board of the Hong Kong Stock Exchange.
Alibaba confirmed Banma seeks a separate listing on HKEX.
Alibaba will continue to hold over 30% of shareholdings in Banma.
Details of the proposed spin-off have not yet been finalized.
This article was written by Arno V Venter at investinglive.com.