Suning’s Stocks Tumble to Six-year Low after Founder Pledges All of the Group’s Shares to Alibaba’s Taobao

The pledged equity is equivalent to a total of 100,000 shares worth 1 billion yuan ($153 million), the same amount as the registered capital of Suning Holdings Group. (Source: kuaibao)

All shares of Suning Holdings Group held by chairman Zhang Jindong, his son Zhang Kangyang and Nanjing Runxian have been pledged to Taobao, Alibaba’s e-commerce platform, …