Stock Track | MINISO Shares Plummet as Investors Question Yonghui Superstores Stake Purchase

Stock Track09-24

MINISO Group Holding Ltd., a global retailer of trendy lifestyle products, witnessed a staggering 30.24% plunge in its share price on Monday after announcing plans to acquire a 29.4% stake in Chinese supermarket operator Yonghui Superstores for a whopping 6.3 billion yuan ($893 million).

The news of the acquisition, which would make MINISO the largest single shareholder in Yonghui, sent shockwaves through the market, with investors expressing concerns about the significant cost and potential risks associated with the move into an entirely new business segment.

MINISO plans to purchase the stake from units of DFI Retail Group, owned by British conglomerate Jardine Matheson, and e-commerce giant JD.com. The acquisition price represents a 3.1% premium over Yonghui's stock price as of September 20.

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