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