2019-02-19 | Alibaba boosts stake in investment bank CICC for $231 million | Reuters
'That indicates a total investment of HK$1.81 billion ($230.61 million), according to Reuters calculations based on the Hong Kong Exchange disclosure. '
'The internet giant bought 117 million CICC H-shares - as those listed in Hong Kong are known - at an average price of HK$15.50. '
'The investment means Alibaba is now the second-largest stakeholder of CICC’s H-shares, with an 11.74 percent stake. '
'After the investment, Alibaba holds a 4.84 percent stake in CICC’s total equity. '
'CICC’s H-shares surged 2.55 percent on Monday before the disclosures were made, against a 0.42 percent dip in the Hong Kong stock market index. '
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'That indicates a total investment of HK$1.81 billion ($230.61 million), according to Reuters calculations based on the Hong Kong Exchange disclosure. '
'The internet giant bought 117 million CICC H-shares - as those listed in Hong Kong are known - at an average price of HK$15.50. '
'The investment means Alibaba is now the second-largest stakeholder of CICC’s H-shares, with an 11.74 percent stake. '
'After the investment, Alibaba holds a 4.84 percent stake in CICC’s total equity. '
'CICC’s H-shares surged 2.55 percent on Monday before the disclosures were made, against a 0.42 percent dip in the Hong Kong stock market index. '
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