Alibaba Group Holding Ltd. (HK:9988) has released an update.
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Alibaba Group Holding Ltd. is set to sell its 73.66% stake in Sun Art Retail Group through a Share Purchase Agreement (SPA) with a purchaser, which will result in the purchaser holding approximately 78.70% of Sun Art’s shares. This transaction will require the purchaser to make a mandatory general offer for the remaining shares of Sun Art. Investors are advised to exercise caution as the completion of the SPA is subject to certain conditions.
For further insights into HK:9988 stock, check out TipRanks’ Stock Analysis page.
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