sale

Alibaba Health raises $1.3 billion in Hong Kong’s biggest secondary share sale in five years

FILE PHOTO: A logo of Alibaba Group is seen at the company’s headquarters in Hangzhou, Zhejiang province, China, November 18, 2019. REUTERS/Aly Song

HONG KONG (Reuters) – Chinese healthcare services firm Alibaba Health Information Technology has raised nearly $1.3 billion in Hong Kong’s largest follow-on share sale in five years, according a statement from the company on Wednesday.

The company will issue 499 million new shares priced at $HK20.05 apiece, an 8% discount to the stock’s HK$21.80 closing price on the Hong Kong exchange on Tuesday.

The final price was at the low end of the flagged HK$20.05 to HK$20.50 range when the deal was launched earlier on Tuesday.

Alibaba Health, an arm of internet retail giant Alibaba Group, said the cash would be used to develop the company’s pharmaceutical e-commerce business, which has benefited from the growth of the online service sector during the coronavirus pandemic this year.

The

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White House says unclear whether U.S. govt will get cut of TikTok sale

WASHINGTON (Reuters) – White House officials on Tuesday could not say how the U.S. government would receive a portion of the proceeds from any sale of TikTok’s U.S. operations, one day after President Donald Trump called for a cut of the money.

“There’s no specific blueprint here,” White House economic adviser Larry Kudlow said on Fox Business Network on Tuesday.

“It may be that the president was thinking, because the Treasury has had to do so much work on this, there are a lot of options here. I’m not sure it’s a specific concept that will be followed through … Regarding fees or anything like that, all that remains to be seen,” Kudlow said.

White House spokeswoman Kayleigh McEnany, speaking to reporters at a separate briefing, also gave no other details and said she did not want to get ahead of Trump on the issue. She reiterated that the United

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Software firm Clearwater Analytics explores $2 billion sale: sources

NEW YORK (Reuters) – Clearwater Analytics is exploring a sale that could value the private equity-owned investment management software firm at around $2 billion, including debt, according to people familiar with the matter.

Welsh, Carson, Anderson & Stowe, the buyout firm which acquired its majority stake in the business in 2016 for an undisclosed amount, has hired an investment bank to run an auction for Clearwater, according to two of the sources.

Clearwater currently generates around $200 million of revenue annually, according to three of the sources.

The sources spoke on condition of anonymity as the information isn’t public. Welsh Carson and Clearwater didn’t respond to requests for comments.

Boise, Idaho-based Clearwater provides software which assists financial firms and other companies to manage their investment portfolios, including accounting and reporting tasks.

Its clients include the international arm of Sompo Holdings, Cisco Systems Inc and Facebook Inc, with offices in the

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White House says unclear whether U.S. government will get cut of TikTok sale

FILE PHOTO: China and U.S. flags are seen near a TikTok logo in this illustration picture taken July 16, 2020. REUTERS/Florence Lo/Illustration/File Photo

WASHINGTON (Reuters) – White House officials on Tuesday could not say how the U.S. government would receive a portion of the proceeds from any sale of TikTok’s U.S. operations, one day after President Donald Trump called for a cut of the money.

“There’s no specific blueprint here,” White House economic adviser Larry Kudlow said on Fox Business Network on Tuesday. “It may be that the president was thinking, because the Treasury has had to do so much work on this, there are a lot of options here. I’m not sure it’s a specific concept that will be followed through….Regarding fees or anything like that, all that remains to be seen.”

White House spokeswoman Kayleigh McEnany, speaking to reporters at a separate briefing, also gave no other details

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