by winston » Tue Jun 02, 2015 6:33 am
not vested
Ma drives Reorient
Financial services provider Reorient Group (0376) nearly tripled in value after a fund backed by ALIBABA GROUP'S Jack Ma Yun agreed to invest HK$2.7 billion in a controlling stake.
Yunfeng Financial Holdings, 40 percent owned by Ma, will buy 56 percent of Reorient at HK$2 a share.
The price represents a 77 percent discount to Reorient's last price on April 20, when TRADING in the shares was suspended.
Trading resumed yesterday, with the price jumping 178 percent to HK$25. It closed at the highest level since 2007: HK$22.65.
After completing the latest transaction, YFHL will own 56 percent of Reorient's expanded capital.
Shares of Alibaba Pictures Group rose 8.71 percent and ALIBABA HEALTHInformation Technology (0241) climbed 1.68 percent.
Source: REUTERS
It's all about "how much you made when you were right" & "how little you lost when you were wrong"