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BABA-W (09988.HK) Sells Entire Stake in Intime w/ Expected Loss RMB9.3B
BABA-W (09988.HK) announced that it, together with another minority shareholder, has agreed to sell 100% of the equity interest in Intime to a consortium of purchasers comprising Y...
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BABA-W (09988.HK) Sells Entire Stake in Intime w/ Expected Loss RMB9.3B
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BABA-W (09988.HK)  +2.150 (+2.654%)    Short selling $511.43M; Ratio 13.183%   announced that it, together with another minority shareholder, has agreed to sell 100% of the equity interest in Intime to a consortium of purchasers comprising Youngor Group and members of Intime’s management team. Intime is one of the leading department store operators in China.

Alibaba currently holds approximately 99% of the equity interest in Intime. The expected gross proceeds to Alibaba from the Intime sale is around RMB7.4 billion, and Alibaba expects to record losses of around RMB9.3 billion as a result of the sale of Intime. The completion of the Intime sale is subject to PRC merger control clearance and other customary closing conditions.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-12-24 12:25.)

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