Deals
Chinese Tech Billionaires Plan to Take Part in $1.2 Billion Fosun Sale
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Founders of China’s two biggest Internet companies are taking part in Fosun International Ltd.’s $1.2 billion share sale, people with knowledge of the matter said.
Funds backed by Alibaba Group Holding Ltd. founder Jack Ma and Tencent Holdings Ltd. chairman Ma Huateng are buying shares in the private placement, the people said Tuesday, asking not to be identified as the information is private. Fosun’s parent is selling 465 million shares at HK$20 each, the company said in a statement to the Hong Kong stock exchange.