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Youku Tudou Inc announces $1.22 bln investment led by Alibaba Group


Monday, 28 Apr 2014 05:34am EDT 

Youku Tudou Inc:Enters into definitive agreements with joint investment vehicle of Alibaba Group Holding Limited and Yunfeng Capital.Pursuant to which Alibaba and Yunfeng Capital through joint investment vehicle will invest aggregate of about $1.22 bln to purchase number of Class A ordinary shares from Company.Says which estimate will be 707,250,870 newly issued shares and 13,869,990 existing Class A ordinary shares at purchase price of $1.6944 per share, corresponding to $30.50 per American Depositary Share of the Company, each representing 18 Class A ordinary shares.Alibaba and Yunfeng Capital will indirectly hold about 16.5 pct and 2.0 pct, respectively, of total issued and outstanding shares of company on fully-diluted basis determined under treasury method, after taking into account shares to be issued in transaction. 

Company Quote

18.94
0.76 +4.18%
4:02pm EDT