Alibaba is splitting into 6 units

The Dhaka Times Desk The Chinese company Alibaba is separating this time. The 22 billion empire is being split into 6 major units, which will raise funds separately and issue market shares separately.

According to a Bloomberg report, this is the biggest change yet for the e-commerce giant that was founded more than two decades ago. The move will free up Alibaba's main divisions to operate with greater autonomy from e-commerce and media.

That is why it is also expected to lay the groundwork for new branches and market creation in the future. The transition to a holding company structure is indeed rare for China's big tech companies.

The decision reflects Alibaba's move away from its practice of operating all business operations, from supermarkets to datacenters, under one umbrella. This basically carries a strong indication that the company is ready to attract new investors and the public market.

The news follows Beijing's pledge to support the private sector, said Steven Leung, executive director of UOB Kay Hian. Companies like Alibaba need to be supported if China is to achieve its 5 percent GDP growth target.

The announcement of the split came shortly after billionaire Jack Ma, one of Alibaba's co-founders, returned to China on March 28 after more than a year away. It is known that Alibaba's chief executive officer (CEO) Daniel Zhang will also head the cloud intelligence division.

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