Category: stock
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Alibaba Shares Surge After Historic Overhaul Heralds IPO Wave
Alibaba Group Holding Ltd.’s US shares surged 12% after China’s online commerce leader announced plans to split its $220 billion empire into six business units, a significant restructuring that promises to yield several initial public offerings. The move frees up the Chinese company’s main divisions from e-commerce and media to the cloud to operate more autonomously,…