Alibaba Group Holding Limited announced a proposal to spin off its wholly-owned subsidiary, T-Head (Shanghai) Technology Co., Ltd., and pursue a separate listing on the Main Board of the Hong Kong Stock Exchange. The company has submitted a listing application for T-Head H Shares via a global offering comprising a public subscription in Hong Kong and institutional placements. T-Head is described as a leading provider of full-stack data center chips enabling system-level compute solutions in China. Following completion, T-Head will remain a subsidiary of Alibaba. The transaction requires regulatory approvals from the Hong Kong Stock Exchange and the China Securities Regulatory Commission. Alibaba operates in e-commerce, cloud computing, and digital technology.
