HONG KONG: Shares of Hundsun Technologies surged more than 10% on Tuesday after Jack Ma, the founder of China's Alibaba Group Holding Ltd , agreed to take a 3.3 billion yuan (US$532mil) stake in the financial software firm.
Hundsun Technologies said last Thursday that Hundsun Group, which owns a 20.6% stake in Hundsun Technologies, would sell all of its shares to Zhejiang Finance Credit Network Technology Co, a company 99% owned by Ma.
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