Alibaba’s movie unit stars in $1.56b deal

Between 30 to 40 investors participated in the share-sale of Alibaba Pictures, which plans to use the proceeds to acquire entertainment firms in China.

Alibaba Pictures Group became the latest mainland company to secure funds through a private placement in Hong Kong, raising HK$12.1 billion ($1.56 billion).  

¬ Haymarket Media Limited. All rights reserved.

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