Alibaba affiliate to invest $383m in China’s Enlight Media
Hangzhou Ali Venture Capital, a VC subsidiary owned by Alibaba Group founders Jack Ma and Simon Xie, has acquired a RMB2.4billion ($383 million) stake in Chinese TV and movie producer Enlight Media.
According to a filing, Enlight Media has sold 2.8 billion new shares to Hangzhou Ali Venture Capital at RMB24.22 apiece through a private placement. The parent company of Enlight Media also subscribed...
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