Alibaba Will Hold 27.90% Of Yintai Shares.

INTIME Retail (Group) Company Limited. (1833.HK)

Business group released a notice on Wednesday, saying it received 29 days.

The board of directors is pleased to accept the change notice.

After the completion of the swap, Alibaba will hold 27.90% of the total holdings.

In March 2014, the Alibaba Group HoldingLtd. (NYSE:BABA) Alibaba Group acquired 220541892 shares of Yintai shares at HK $7.5335 per share, accounting for 9.90% of the total shares. In addition, it acquired HK $3706066630.16 convertible bonds with an initial exchange rate of HK $7.9102, compared with the previous one.

About 12.4% of the offer before the day closed.

The two investment amounted to HK $5 billion 370 million.

If the convertible bond is enlarged, the share capital will be about 8.12% of the total share capital.

The placing price is 7.5335 yuan per share, which is about 16.6% discount from the closing price of 9.03 days before the first trading day.

According to the paction discussion between Alibaba and Yintai 2 years ago, Alibaba group could convert Yintai convertible bonds into Yintai common stock, about 490 million shares, or about 18.02% of the total share capital within three years after the paction reached.

According to the latest announcement of Yintai, Alibaba has converted all outstanding convertible bonds according to HK $7.1309 per share, with a total of 535185846 shares.

After the exchange is completed, Yintai will issue 2715238226 shares.

After the completion of the stock swap, the Alibaba held 1825000 stake in Yintai via the indirect wholly-owned subsidiary The Libra Capital Greater China Fund Limited, accounting for about 0.07% of the issued share capital; Alibaba vice chairman Cai Chongxin held 8000; Alibaba group held 755727738 shares, accounting for 27.83% of the issued share capital.

The top two shareholders are regarded as Alibaba's unanimous people, so shareholding is seen as part of the shareholding of Alibaba investors.

After the conversion, Yintai founder and former chairman Shen Guojun's family holdings fell from 21.87% to 17.56%, holding 476794015 of the shares. The shares were held by Shen Guojun, Shen Guojun daughter Shen Zhiyu and Shen Guojun sister Shen Junyan three, holding 262974015, 106910000 and 106910000 respectively, accounting for 9.69%, 3.94% and 3.94% respectively.

In addition, Daniel Chan, chief executive of Yintai, has a 42250000 stake and a 1.56% stake from the previous 1.94%.

Thursday, INTIMERetail (Group) Company Limited. (1833.HK) Yintai commercial opening price soared, as of press time Hongkong time 15:16 at HK $6.440, up 7.333%.