23 March 2019

Jack Ma snaps up 20.6% of Hundsun Technologies, paper says

Hundsun Group has agreed to sell its entire stake in financial software and online service provider Hundsun Technologies Inc. (600570.CN) to Zhejiang Finance Credit Network Technology Co. Ltd., a  company controlled by Alibaba founder Jack Ma, Securities Times reported Thursday. Zhejiang Finance will pay 3.3 billion yuan (US$531.49 million) for the deal which will give it a 20.62 percent stake in Hundsun Technologies. Shares of Hundsun Technologies Inc., which have been suspended since March 17, will resume trading on April 8. Ma holds 99.14 percent of Zhejiang Finance Credit Network Technology, the report said. 

– Contact HKEJ at [email protected]



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