Momo App Maker Courted by Alibaba as Buyout Group Grows: Chart

Alibaba Group Holding Ltd.’s eyes for Momo Inc. have made the dating-app maker giddy. Momo’s American depositary receipts surged Wednesday in New York after Alibaba’s finance affiliates said they’ll join the buyout group for the Chaoyang, China-based company. Shares had their biggest gain since Momo’s 2014 initial pubic offering, jumping as much as 35 percent and more than doubling from the record low set in February when speculation mounted that a deal wouldn’t be consummated.

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