Aug. 21 at 8:14 AM
$BABA Huge beneficiary. Alibaba says smart car spinoff Banma plans to list shares in Hong Kong
Alibaba said in a filing on Wednesday that Banma, a smart car supplier that the company backs, will list shares on the Hong Kong Stock Exchange.
Alibaba owns about 45% of Banma, and the company said it will continue to hold over 30% of its stock.
The filing says Banma is “principally engaged in the development of smart cockpit solutions.”