Alibaba ( (BABA) ) has provided an announcement.
Don't Miss Our New Year's Offers:
- Discover the latest stocks recommended by top Wall Street analysts, all in one place with Analyst Top Stocks
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
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.
Trending Articles
- ‘Don’t Jump on Bandwagon,’ Says Top Investor About IonQ Stock
- ‘Time to Strike,’ Says Investor About AMD Stock
- Amazon’s (NASDAQ:AMZN) Return-to-Office Mandate Comes With Unexpected Issue
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
