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.
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.
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.