The Alibaba Group revealed that it has bought into China International Capital Corporation recently, The Paper reported.
Alibaba is now holding approximately 203 million shares of CICC Hong Kong, which accounts for 11.74% of the company’s Hong Kong shares and 4.84% of the total shares issued.
It is worth noting that another Internet giant, Tencent, is the second largest shareholder of the company. In September 2017, CICC announced that it intended to issue 207.5 million H shares to Shenzhen Tencent Computer System Company Limited, a wholly-owned subsidiary of Tencent, which accounted for 12.01% of CICC’s H shares and 4.95% of its total shares issued.
Central Huijin Investment is the largest shareholder of CICC, accounting for 55.68% of the shares. It is followed by Tencent, TPG Capital, GIC Private Limited and China National Investment & Guaranty Corporation, which hold 4.95%, 4.1%, 3.77% and 3.04% of CICC’s total shares issued, respectively.
CICC is China’s first Sino-foreign joint venture investment bank, established in 1995. In 2015, it experienced a share restructuring and went public in Hong Kong in November same year.