E-House's open strategy to acquire an 85% stake in Tmall Haofang

Written by ACN Newswire - Press Releases

SHENZHEN, CHINA, May 14, 2021 - (ACN Newswire) - On April 28, E-House China Enterprise Holdings Co., Ltd. (2048.HK) announced it had acquired an 85% stake in Tmall Haofang, through an issue of 248 million new E-House shares to Alibaba (NYSE: BABA; 9988.HK). At HK$ 7.50 per share, it was the equivalent to an acquisition at HK$ 1.86 billion.

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