After Alibaba Group Holding s split into six units, each segment will function as an independent operating company that can go to the market to seek funding or launch an initial public offering, Chief Executive Officer Daniel Zhang said during a conference call on Thursday.
After the split, Zhang said that the relationship dynamic would change as the company would shift toward a role of more of an asset and capital operator, and that the mammoth tech company would retain shareholder and board control.
The news was timed to coincide with the end of the fiscal year, so the company could immediately begin the implementation of the strategy once the new fiscal year begins, as groundwork for the split was underway prior to the announcement.
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