Pursuits
Chinese Actress Zhao Wei, Husband Buy $400M Stake in Alibaba's Film Unit
Chinese actress Zhao Wei
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Alibaba Pictures Group Ltd. regained the value lost in the aftermath of an accounting scandal, rising the most in five months as Chinese actress Zhao Wei and her husband bought a $400 million stake in Jack Ma’s film studio.
The entertainment arm of Alibaba Group Holding Ltd. finished trading in Hong Kong with a market capitalization of HK$34.7 billion ($4.5 billion), more than five times its value when Ma’s e-commerce giant announced plans to acquire the company in March. Shares closed Tuesday at HK$1.65, a 5.1 percent increase to the highest price since Aug. 6.