Yahoo has officially filed with the SEC to spin off its remaining shares of Alibaba Group into a publicly traded company called Aabaco Holdings.
Yahoo says Aabaco Holdings will make its debut in the fourth quarter of 2015.
[aditude-amp id="flyingcarpet" targeting='{"env":"staging","page_type":"article","post_id":1769561,"post_type":"story","post_chan":"none","tags":null,"ai":false,"category":"none","all_categories":"business,","session":"A"}']The new holdings group will house 384 million shares of Alibaba Group stock or 15 percent of company. Abaco Holdings also has total stock ownership of Yahoo Small Business. In a statement, the company revealed that it will distribute remaining shares of Aabaco Holdings proportionally among shareholders.
The spin off was first announced in January of this year.
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Though Yahoo hasn’t announced the details of who will preside over the new company, investors seem pleased. In after-hours trading, Yahoo’s stock is up a little over a percentage point.
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