After the closing of the investment in Suning, Alibaba will be the second-largest shareholder in the company. Concurrent with Alibaba’s investment in Suning, Suning will invest up to USD 2.28 billion to subscribe for up to 27.8 million newly issued ordinary shares of Alibaba. After the investment, Suning will hold approximately a 1.1% interest in Alibaba’s enlarged issued and outstanding share capital.
The strategic collaboration between Alibaba and Suning marks a milestone that signals the further integration of digital and offline retail. The alliance will bring benefits to hundreds of millions of Chinese consumers who use Alibaba’s online platforms and Suning’s offline channels.
In the area of logistics, Suning will become a partner of Cainiao, Alibaba’s logistics affiliate and Suning’s logistics services cover almost all of the 2,800 counties and districts in China.
Established in 1990, Suning is primarily in the retail business of home appliances, consumer electronics, supermarket categories, baby products, books and virtual products.
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