Singapore Exchange gives go-ahead for Alibaba to raise stake in SingPost
The Singapore Exchange (SGX) has given its approval in principle for Alibaba to raise its stake in Singapore Post (SingPost). SingPost filed an announcement about the SGX approval yesterday (15 December).
Alibaba will be acquiring about 107.6m new shares in SingPost, which will raise its stake in the postal operator from 10.2% to 14.4%.
The arrangement is reportedly set to be completed by the end of February.