Alibaba ( (BABA) ) has provided an announcement.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Alibaba Group Holding Limited announced the disposal of its shares in Sun Art Retail Group, a move that involves selling approximately 73.66% of Sun Art shares held through its subsidiaries. This transaction allows the purchaser to acquire a significant stake, potentially leading to mandatory general offers for Sun Art’s remaining shares. The deal, valued at HK$11,637 million, is structured with deferred payments and interest contingent on future financial performance, highlighting Alibaba’s strategic shift in its retail investments.
More about Alibaba
Average Trading Volume: 16,540,544
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $202B
For an in-depth examination of BABA stock, go to TipRanks’ Stock Analysis page.