(Yicai Global) March 30 -- Alibaba Group Holding will consider gradually listing five of its six new business groups, all except the internet giant’s China e-commerce arm, according to Chief Financial Officer Toby Xu.

All but Taobao Tmall Commerce Group could raise capital independently and seek initial public offerings, Xu said on a conference call with analysts this morning. “After going public, we will continue to evaluate the strategic importance of these companies to Alibaba,” he said, adding that “on that basis, we will decide whether or not to continue to retain control.”

Earlier this week, Alibaba unveiled the Hangzhou-based firm’s biggest organizational shakeup since it was founded 24 years ago. Under the restructuring, six new business groups were created: Taobao Tmall Commerce, Cloud Intelligence, Local Services, Cainiao Smart Logistics, Global Digital Commerce, and Digital Media and Entertainment.

Alibaba will continue to monetize some of the less strategic assets in its investment portfolio to improve its overall capital structure, Xu added.

Investors generally believe that Alibaba's market valuation mainly reflects the value of the e-commerce business which includes the online shopping platforms Taobao and Tmall as well as community marketplace Taocaicai and business-to-business platform 1688.Com.

“With the transition into the new structure, the management teams of the BGs will be working on planning and mapping out strategy, of course, not just for the coming year, but for the coming years,” according to Daniel Zhang, chairman and chief executive.

Alibaba's Hong Kong-listed shares [HKG: 9988] rose 2.5 percent to close at HKD96.90 (USD12.34) apiece today. Since announcing the restructuring, the company’s stock has gained about 15 percent in Hong Kong and New York.

Alibaba, which has seen growth slow amid tighter regulation of the internet sector in China, is still sticking to its USD40 billion share buyback plan that continues till March 2025. “Our commitment to the existing share repurchase program has not changed,” Xu said.

Editor: Emmi Laine, Xiao Yi