Jiangsu state-owned fund invested in Suning and received 16.96% of the shares
Jiangsu Province State-owned Assets Investment Fund invested in Suning and bought 16.96% shares to solve Suning's liquidity crisis. For this purpose, Jiangsu Province State-owned Assets and Nanjing Municipal State-owned Assets have set up a fund in the amount of CNY 8.83B, which is now issuing loans to Suning. Companies such as Alibaba, or TCL, or Xiaomi should also be involved in the fund. This development now speaks against a purchase Suning from Alibaba. There are already several applications for suspension of the listing on the Shenzhen Stock Exchange due to the company's poor performance.
This briefing is contributed by and first appeared on CIMK.
Source: CIMK
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