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03

Alibaba’s Movie Unit Joins Share-Sale Fever

By Tony Seruga

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

Count billionaire Jack Ma’s Alibaba Pictures Group Ltd. among the growing number of companies in the Greater China region seeking to raise money through the stock market to take advantage of surging prices.

The unit of Alibaba Group Holding Ltd. on Thursday said it plans to raise HK$12.2 billion ($1.6 billion) by selling new shares in Hong Kong to help finance potential acquisitions. The sale of 4.2 billion shares will increase the number of outstanding by 20 percent — diluting existing ones — leading the shares to fall as much as 11 percent in early Hong Kong trading today…

Alibaba’s Movie Unit Joins Share-Sale Fever

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