BIG NUMBERS: Under the deal, Alibaba Health will buy 100% of the online pharmacy operations from a wholly owned subsidiary of Alibaba Group and another investor for HK$19.45 billion (RM9.27bil).
SHANGHAI: Chinese e-commerce firm Alibaba Group Holding is injecting its online pharmacy operations into a Hong Kong-listed affiliate in a US$2.5bil (RM9.30bil) deal to consolidate its healthcare enterprise and ride a boom in online health-related business.
Shares in the affiliate, Alibaba Health Information Technology Limited, nearly doubled early on April 15 after the announcement, resuming trading after being suspended since March 20.
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