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Stock Market & Financial Investment News

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April 28, 2014
06:07 EDTYOKUYouku Tudou announces $1.22B investment led by Alibaba Group
Youku Tudou announced that it has entered into definitive agreements with a joint investment vehicle of Alibaba Group Holding and Yunfeng Capital, pursuant to which Alibaba and Yunfeng Capital, through the joint investment vehicle, will invest an aggregate of approximately $1.22B to purchase a number of Class A ordinary shares from the company, which we estimate will be 707.25M newly issued shares, and 13.87M existing Class A ordinary shares, at a purchase price of $1.6944 per share, corresponding to $30.50 per American Depositary Share of the company, each representing 18 Class A ordinary shares. Alibaba and Yunfeng Capital will indirectly hold approximately 16.5% and 2.0%, respectively, of the total issued and outstanding shares of the company on a fully-diluted basis determined under the treasury method, after taking into account the shares to be issued in the transaction. The transaction is expected to close in the near future, subject to the satisfaction of customary closing conditions. Jonathan Lu, CEO of Alibaba, will join Youku Tudou's board of directors upon completion of the transaction.
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September 16, 2014
09:31 EDTYOKUYouku Tudou downgraded to Mixed from Positive at OTR Global
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