Shares of Intime Retail (Group) Co Ltd were set to surge 38% when it resumes trade on Tuesday after Alibaba Group Holding Ltd joined forces with the founder of the department store operator to take it private for $2.6 billion.
Intime`s shares were set to open at HK$9.70. Trading in the stock had been halted since December 28.
Alibaba Investment Ltd and Shen Guo Jun jointly offered to take Intime private for HK$10 per share, representing a 42.25% premium over its last trading price of HK$7.03 each.
By accepting cookies, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts.
