Posted inChina

Alibaba-backed fund to reduce YTO Express holdings

YTO Express Group said its third largest shareholder, Shanghai Yunfeng XinChuang Private Equity Investment, will sell about 700 million yuan (US$103.3 million) in shares to fulfil its own capital demands, according to a stock exchange filing. The Alibaba-backed fund presently holds 5.96%, or 169 million shares, of YTO’s total issued capital, making it the third […]

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