MT Newswires Live06-03
Alibaba Group Holding (HKG:9988) has agreed to sell its entire stake in Baozun (HKG:9991) to Champion Kerry Inc., Baozun said in a Thursday filing on the Hong Kong bourse.
Alibaba owns approximately 14.4% of Baozun's share capital.
After the completion of the transaction, Alibaba will no longer be a stakeholder in the company.
Alibaba's shares rose nearly 3% in Hong Kong trading recently.
Price (HKD): $76.85, Change: $+1.95, Percent Change: +2.60%
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