Latest Search
Quote
| Back Zoom + Zoom - | ||||
|
SUNART RETAIL Tumbles 25% After BABA-W Fully Sells Stake
Recommend 22 Positive 30 Negative 20 |
||||
|
||||
|
BABA-W (09988.HK) fully sold its stake in SUNART RETAIL (06808.HK). SUNART RETAIL opened 14.92% lower before its decline widened in the early session, and last tumbled 25% to $1.86. Volume was 49.35 million shares, involving $90.43 million. The Alibaba Subsidiaries and New Retail sold approx. 78.7% equity interest in SUNART RETAIL to Paragon Shine Limited at a price of $10.361 billion, equivalent to $1.38 per share, according to BABA-W's announcement. Taking into account an interim dividend of $0.17 per share of SUNART RETAIL, the Alibaba Subsidiaries and New Retail are entitled to receive $11.637 billion, equivalent to $1.55 per share. Following completion of the Disposal, Alibaba Group will no longer hold any equity interest in SUNART RETAIL and SUNART RETAIL will cease to be accounted for as a subsidiary of the Company. The Company estimated the losses attributable to the Shareholders arising from the Disposal to be approx. RMB13.177 billion. AAStocks Financial News |
||||
Copied to Clipboard
 |
||||
