(ECNS) -- Alibaba Group announced plans to spin off its wholly owned subsidiary T-Head Semiconductor Co., Ltd. for a separate listing on the main board of the Hong Kong Stock Exchange (HKEX), Cailian Press reported on Tuesday.
HKEX has confirmed that Alibaba may proceed with the proposed spin-off. T-Head confidentially filed its listing application with the exchange on Sept. 11, 2026. The proposed listing will take the form of a global offering of H shares, comprising a Hong Kong public offering and a placing to institutional and professional investors.
Alibaba described T-Head as one of China's leading full-stack data center chip suppliers, offering system-level computing solutions through its chips.
Following the spin-off, T-Head is expected to remain a subsidiary of Alibaba. The size and structure of the global offering, as well as any changes to Alibaba's stake in the company, have yet to be determined.
The proposed spin-off remains subject to approval by the HKEX Listing Committee and completion of the filing process with the China Securities Regulatory Commission, among other regulatory requirements.
Earlier media reports said that T-Head was planning a Hong Kong IPO in 2027, aiming to raise $2 billion to $3 billion or more (approximately HK$15.6 billion to HK$23.4 billion). If it proceeds as reported, the offering would rank among the largest semiconductor IPOs in Hong Kong in recent years.
(By Gong Weiwei)
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