Reorient Group 0376

Reorient Group 0376

Postby behappyalways » Mon Jun 01, 2015 12:23 pm

Jack Ma Fund’s Investment Sends Reorient Soaring in Hong Kong

http://www.bloomberg.com/news/articles/ ... -hong-kong
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Re: Reorient Group 0376

Postby 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
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