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SUNART RETAIL Tumbles 25% After BABA-W Fully Sells Stake
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...
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SUNART RETAIL Tumbles 25% After BABA-W Fully Sells Stake
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BABA-W (09988.HK)  -0.750 (-0.913%)    Short selling $781.08M; Ratio 16.614%   fully sold its stake in SUNART RETAIL (06808.HK)  -0.010 (-0.532%)    Short selling $1.87M; Ratio 8.088%   . 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.

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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.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-01-07 16:25.)

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