Alibaba injects online pharmacy business into HK-listed unit
Wednesday, April 15, 2015
(AVCJ by Winnie Liu) – Alibaba Group plans to inject the operations of its online pharmacy business into Alibaba Health Information Technology (Alibaba Health), a Hong Kong-listed healthcare company that it bought alongside Yungfeng Capital last year, in a deal worth HK$19.4 billion ($2.5 billion).
According to a filing, Alibaba Health will issue a combination of shares and convertible bonds to acquire the online drug selling platform on Alibaba's B2C TMall e-commerce platform, with the shares priced at HK$5.28 apiece.
