Sweden’s Nordea Investment buys $490.2 mln stake in China’s Alibaba Group

12/20/2018 1:12:00 PM (GMT)

Swedish asset management firm Nordea Investment Management AB announced that it has bought a stake in Chinese retail to technology giant Alibaba Group Holding Ltd.

Valued at about $490.2 million, Nordea acquired 2.9 million shares of Alibaba’s stock.

Alibaba Group has booked a market capitalization of $368.75 billion.

For the last quarter, the company generated $12.4 billion in revenue.

Nordea Investment Management AB.

All success stories are prepared by Investsize editors which is selecting elite and remarkable information from press releases and anonymous news sources.There is no charge applied for any success stories which is published . Those published success stories are not investment advices and doesnt offer recommendations Alternate Text