SingPost And Alibaba announced a strategic investment by Alibaba Investment Limited into Singpost under which AIL will pay $312.5m for 30m ordinary shares held in treasury and another 190m new shares. Upon completion, Alibaba Investment Limited will command about 10.35% in SingPost. The new shares issued will be at a price of $1.42 which about 8% t the last traded price of $1.54.
I view this as positive for SingPost effort to grow the e-commerce space in SEA with a formidable backer in Alibaba.
No comments:
Post a Comment