Alibaba’s grocery arm Freshippo is expected to go public on the Hong Kong stock exchange as soon as mid-November, local media outlet HKET reported early Monday. The IPO would make it the first Alibaba subsidiary to list independently after the Chinese tech giant launched its largest-ever reform earlier this year. Hema currently operates 300 new retail stores including membership stores under its Hema X brand and discount Hema Outlets stores, mainly in China’s tier-1 cities. Hema generated RMB 61 billion ($8.4 billion) in revenue in 2022. [Hong Kong Economic Times, in Chinese]