Pursuits

Jack Ma Fund’s Investment Drives Record 152% Surge for Reorient

Alibaba Group Chairman Jack Ma. Photographer: SeongJoon Cho/Bloomberg

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By Paul Panckhurst

June 1, 2015 at 1:51 AM UTC

Updated on

June 1, 2015 at 9:20 AM UTC

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Shares of Hong Kong-based investment bank Reorient Group Ltd. jumped a record 152 percent after a private-equity fund backed by e-commerce billionaire Jack Ma agreed to invest in the company.

The stock closed at HK$22.65 in Hong Kong, the highest level since 2007, after its biggest one-day gain, according to Bloomberg data going back to 1990.