Alibaba increases its stake in healthcare | The standard

Staff reporter

Alibaba Health Information Technology (0241) said yesterday that its parent company Alibaba (9988) had increased its stake in the company to 57.06% from 56.7%.

The Chinese e-commerce giant indirectly increased its stake in its healthcare unit from 7.66 billion shares to 7.71 billion shares, Alibaba Health said in a regulatory filing to the Hong Kong stock exchange yesterday. .

This came as China Pacific Insurance (Group) (2601) announced that its shareholder, state-owned Shanghai Assets Management, had increased its stake in the insurer to 10.3%.

The insurer said in a filing that Shanghai State-owned Asset Management and its related parties increased their secondary market holdings by a total of 96.25 million shares of the company, reaching 10.32%, in the period from April 9 last year to May. 20 this year.

This represents an increase of 1% compared to the shareholding ratio as of April 8, 2021, according to the Chinese insurer.

Last week, China Pacific Insurance reported that its revenue from the life insurance business rose 4% year-on-year to 115.79 billion yuan (HK$135.76 billion) over the past few weeks. first four months.

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