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Alibaba injects US$488mil health food assets into Ali Health

May 19, 2017 12:54 PM
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Alibaba injects US$488mil health food assets into Ali Health

HONG KONG: Alibaba Health Information Technology Ltd said on May 19 that controlling shareholder Alibaba Group Holding Ltd would sell HK$3.8bil (US$488.3mil/RM2.11bil) worth of health food and nutritional products businesses to the company, further developing it into Alibaba's healthcare flagship platform.

Alibaba Health will buy Ali JK Nutritional Products Ltd from Alibaba Group in a deal to be settled by the issue of 1.19 billion shares at HK$3.2 (RM1.78) apiece, or a 6.16% discount to the last close, the company said in a filing to Hong Kong bourse.

Source: thestar.com.my

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