Alibaba Chairman’s Busy Week

It was a productive week for the Alibaba Group Holdings chairman Jack Ma. Earlier this week he made a US$200 million investment in Chinese private conglomerate Fosun International's HK$9.3 billion private placement. He also joined together with the son of China’s richest man Wang Jianlin’s to invest in Letv Sports.

Then to round things off Ma invested some HK$2.7 billion for 56 percent of Hong Kong based brokerage the Reorient Group.

The notice filed with the Hong Kong Stock Exchange showed that Ma bought 1.34 billion Reorient shares at HK$2 each on May 7 . The brokerage had 455.65 million issued shares before the deal. Ma did not own any shares before this investment.

Jack Ma used his Yunfeng Financial Holdings, 40 per cent controlled by him to acquire the Reorient stock.


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