China daily: Alibaba restructuring has led to an increase in the value of shares of Chinese IT companies
Alibaba's restructuring has led to an increase in the value of shares of both the company itself and other Chinese IT giants, China Daily reports.
On Wednesday, Alibaba shares rose in price by 12.23%. At the closing of the Hong Kong stock exchange, their value was 94.55 Hong Kong dollars ($12.05). Stock prices of other technology companies, including JD and Baidu, also rose.
According to experts, the capital changes will cause a revaluation of the value of Alibaba shares, allowing its business units to raise funds separately and independently enter the stock exchange.
Alibaba's reorganization is particularly relevant in light of China's emphasis on encouraging enterprises that play an important role in maintaining the country's economic growth and expanding employment.
ORIENT news
