Alibaba’s Sun Art Halts Hong Kong Trading: A Dive into Divestment Speculation and the ‘New Retail’ Strategy

Sun Art, under Alibaba, halts trading in Hong Kong, leading to divestment rumors

Four years ago, Alibaba acquired Sun Art Retail Group to chase a fresh approach to retail

Four years ago, Alibaba acquired Sun Art Retail Group to chase a fresh approach to retail

The latest trading price for Sun Art shares was HK$1.79, which is approximately 78 per cent lower than the price per share of roughly HK$8.1 that Alibaba paid when it invested. Alibaba is the proprietor of the South China Morning Post.

Sun Art did not disclose any information regarding possible acquisitions or amalgamations in its securities exchange submission. The firm chose not to elaborate further. As of Monday, Alibaba has not yet replied to a request for commentary.