Alibaba Shares Jump After Breakup Plan Announcement Chinese tech giant Alibaba sawa significant increase in its share price following the announcement of its plan to break up the company. The move involves creating six units, of which five will explore fresh funding and IPO options. On Tuesday 28th March, Alibaba shares rose by over 14% in New York, and on Wednesday 29th March, they were over 13% higher in Hong Kong. In contrast, its US-listed shares had fallen by almost 70% since 2020, reflecting concerns over Beijing’s crackdown on the tech sector. This restructuring, the biggest in Alibaba’s 24-year history, comes after founder Jack Ma made a public appearance in China for the first time in three years. The six units will have their own chief executives and boards of directors and will be permitted to raise capital and seek stock market listings, with the exception of the online retail platform Taobao Tmall Commerce Group, which will remain wholly owned by Alibaba. THE MONTHLY ROUND-UP
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