Chinese e-commerce giant Alibaba Group Holding Ltd. (BABA), which completed an historic multi-billion-dollar US initial public offering, revealed in a regulatory filing in China on Monday that it agreed to acquired a 15 percent stake in Chinese hospitality technology provider Beijing Shiji Information Technology Co., Ltd. for 2.81 billion Chinese Yuan or $457 million. This is Alibaba's first major investment after the US IPO.
According to the regulatory filing on the Shenzhen Stock Exchange, the deal will see Alibaba's Taobao (China) Software Co., Ltd. buying 54.55 million shares of Beijing Shiji for 51.52 yuan per share. The total stake represents 15 percent of the total issued shares of Beijing Shiji.
Taobao is a Chinese website for online shopping similar to eBay.com and Amazon.com that is operated in China by Alibaba Group. The site was founded by Alibaba in May 2013.
Meanwhile, Beijing Shiji provides IT consulting to hotels in China and sells everything from software that manages room reservations, purchasing, inventory, and point of sales systems, to broadband networks and billing systems.
Almost 6,000 hotels in China use its products, including 90 per cent of the country's five-star hotels. Its customers include Grant Hyatt Hotels, Marriott International Inc, Westin Hotels and Resorts and Sofitel Luxury Hotels.
BABA closed Friday's regular trading session at $90.46, up $1.54 or 1.73% on a volume of 18.34 million shares.
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December 19, 2025 15:10 ET U.S. inflation data and interest rate decisions by major central banks were the highlights of this busy week for economics news flow. Employment data and survey results on the housing markets also gained attention in the U.S. In Europe, the European Central Bank and Bank of England announced their policy decisions and macroeconomic projections.