Alibaba says smart car spinoff Banma plans to list shares in Hong Kong

Alibaba-backed Banma, a provider of technology for smart cars, is planning to list shares on the Hong Kong Stock Exchange, according to a filing.In a filing dated Aug. 21, Alibaba said it currently owns about 45% of Banma and will continue to control over 30% of the company's stock after the listing. Banma said in a filing that the announcement does not guarantee a listing will take place.Banma, founded in 2015 and based in Shanghai, is "principally engaged in the development of smart cockpit solutions," Al ...