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The stock price plummeted ! Sun Art Retail's major shareholder sold out its shares at a discount, with the highest price being HK$. billion
The market performed sluggishly on the first trading day of the new year.
Due to Alibaba's share reduction, Hong Konglisted stock Gao Xin Retail fell by more than at one point and is currently down . to HK$. per share, with a total market value of HK$. billion.
In , Gome Retail's share price rose by nearly , with a low of HK$. per spain phone number list l share and a high of HK$. per share.
Ali discount clearance
On the evening of January , Alibaba announced that its subsidiary and New Retail had entered into an agreement with Dehong Capital to sell all of their shares in Gao Xin Retail, which together accounted for approximately . of the total issued shares of Gao Xin Retail.
According to the agreement, Alibaba's subsidiary and New Retail will have the right to receive a maximum amount of approximately HK$. billion for the shares to be sold, equivalent to HK$. per share, a discount of approximately . from the latest share price of HK$. per share.
Earlier in , Alibaba first invested in Sun Art Retail, spending approximately US$. billion approximately HK$. billion to acquire . of Sun Art Retail's shares, becoming its second largest shareholder.