Industry

Alibaba Increases Stake in Health Venture to 57.06%

May 23, 2022, 15:05pm2022/05/23 15:00:36 Pandaily

Alibaba Health Information Technology Limited<img decoding="async" class="trade-card__loading" layout="fixed" height="50" width="50" src="https://assets.pandaily.com/uploads/2021/12/loading.png" placeholder /> announced on the Hong Kong Stock Exchange (HKEx) website on May 20 that that its parent entity, Alibaba<img decoding="async" class="trade-card__loading" layout="fixed" height="50" width="50" src="https://assets.pandaily.com/uploads/2021/12/loading.png" placeholder />, has increased its shareholding in the company from 7,664,602,068 shares to 7,713,318,533 shares, representing an increase from 56.70% to 57.06% of the total issued share capital.

This increase is due to the distribution in specie of some shares held by Innovare Tech Limited under Yunfeng Fund to the limited partners (L.P.) of the Fund on May 20. Alibaba Group Holding Limited<img decoding="async" class="trade-card__loading" layout="fixed" height="50" width="50" src="https://assets.pandaily.com/uploads/2021/12/loading.png" placeholder /> remains the largest and ultimate controlling shareholder of the company after the distribution.

Regarding this distribution, Yunfeng Fund stated that stock distribution is a routine fund management behavior. The fund, as always, is optimistic about the long-term development of Alibaba<img decoding="async" class="trade-card__loading" layout="fixed" height="50" width="50" src="https://assets.pandaily.com/uploads/2021/12/loading.png" placeholder /> Health in the industry, and it will continue to maintain good cooperation with the company.

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Alibaba<img decoding="async" class="trade-card__loading" layout="fixed" height="50" width="50" src="https://assets.pandaily.com/uploads/2021/12/loading.png" placeholder /> Health is one of the companies invested and controlled by Alibaba<img decoding="async" class="trade-card__loading" layout="fixed" height="50" width="50" src="https://assets.pandaily.com/uploads/2021/12/loading.png" placeholder /> Group. Its business mainly focuses on pharmaceutical e-commerce and new retail, internet medical care, consumer medical care, smart medical care and other fields. An insider close to Alibaba<img decoding="async" class="trade-card__loading" layout="fixed" height="50" width="50" src="https://assets.pandaily.com/uploads/2021/12/loading.png" placeholder /> revealed that the increase in shares shows the e-commerce giant’s confidence in the healthy and long-term development of the company. Earlier, Alibaba<img decoding="async" class="trade-card__loading" layout="fixed" height="50" width="50" src="https://assets.pandaily.com/uploads/2021/12/loading.png" placeholder /> stated in its annual report that Alibaba<img decoding="async" class="trade-card__loading" layout="fixed" height="50" width="50" src="https://assets.pandaily.com/uploads/2021/12/loading.png" placeholder /> Health is the flagship platform for the Group to introduce innovative solutions for the pharmaceutical and health industries.