Money briefs : Alibaba expands healthcare platform

Alibaba Health will buy Ali JK Nutritional Products from Alibaba Group.
Alibaba Health will buy Ali JK Nutritional Products from Alibaba Group.PHOTO: REUTERS

Alibaba expands healthcare platform

HONG KONG • Alibaba Health Information Technology said yesterday that controlling shareholder Alibaba Group Holding would sell HK$3.8 billion (S$681 million) worth of health food and nutritional product businesses to the company, further developing it into Alibaba's healthcare flagship platform.

Alibaba Health will buy Ali JK Nutritional Products from Alibaba Group in a deal to be settled by the issue of 1.19 billion shares at HK$3.20 apiece, the company said in a filing to the Hong Kong bourse.

The deal will bring a broader set of merchants into the online healthcare community, while the company will enjoy more stable and sustainable revenue growth.
REUTERS


Aston Martin could list in London next year

LONDON • Aston Martin may consider an initial public offering (IPO) as early as next year, as the British maker of James Bond cars seeks to capitalise on the success of Ferrari's listing to attract investors, sources said.

The century-old carmaker, whose owners include Investindustrial, could list in London. The company is waiting to report this year's financial results before choosing advisers for a formal process, one of the people said.

No final decisions has been made, and the company could decide to postpone the plans, the sources said.

The luxury-car manufacturer could aim for a valuation similar to that of Ferrari, which was listed in New York in 2015, they said.

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A version of this article appeared in the print edition of The Straits Times on May 20, 2017, with the headline 'Money Briefs'. Print Edition | Subscribe