A construction site at the Central Business District in Beijing on Tuesday, September 19, 2017. Photo: AP

Shares of ‘China’s Goldman Sachs’ jump after Alibaba raised its stake

  • CICC soared by nearly 11 per cent in first trading after Alibaba announcement
  • Alibaba makes its second investment into Chinese investment bank in six months
Topic |   Stocks

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A construction site at the Central Business District in Beijing on Tuesday, September 19, 2017. Photo: AP
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Alibaba owns 202.8 million shares in China International Capital Corporation. Photo: Reuters

Alibaba acquires 4.84 per cent stake in mainland China bank CICC to become third-largest shareholder after Tencent

  • Company acquired 117 million shares at an average price of HK$15.5 per share on February 14
  • Tencent took up 4.95 per cent stake in CICC in September 2017
Topic |   Alibaba

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Alibaba owns 202.8 million shares in China International Capital Corporation. Photo: Reuters
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