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May 31, 2018
Abstract : China’s retail giant Suning.com announced on Wednesday that has sold 0.3 percent stake in e-commerce powerhouse Alibaba.
BEIJING, May 30 (Xinhua) - China’s retail giant Suning.com announced on Wednesday that has sold 0.3 percent stake in the e-commerce powerhouse Alibaba.
The sale is estimated to bring Suning profit of about 5.6 billion yuan.
In May, the company said it planned to sell up to 7.66 million shares in Alibaba Group, equivalent to a 0.3 percent stake. The plan was then approved at Suning.Com’s 2017 annual shareholders’ meeting.
(Edited by Yang Yifan, yangyifan@xinhua.org)
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