Scalper1 News
Flexing its muscles in the entertainment world, a separately traded unit of Alibaba Group (BABA) announced plans to raise $1.57 billion to finance potential acquisitions in media related investments. Alibaba Pictures Group, which trades on the Hong Kong stock exchange, has reached a deal to sell 4.2 billion shares at $2.90 in Hong Kong dollars (37 cents) each to select investors. That’s a 20% discount to the stock’s June 1 closing price. Credit Scalper1 News
Scalper1 News