Chinese sportswear maker Dongxiang Group said on Friday it will invest $100 million in Yunfeng Capital, a fund targeted at making investments in Alibaba Group.Yunfeng Capital, Silver Lake and DST Global said on Thursday they will buy shares in China's largest e-commerce group Alibaba by leading a tender offer for employee shareholders, option holders and certain other shareholders of Alibaba Group.
Singapore-based investment firm Temasek, a shareholder in Alibaba Group, is also taking part in the offer.
The transaction would give Alibaba an enterprise valuation of $32 billion, the tech blog AllThingsD said, adding the group would get a stake of just under 5 percent if the offer is fully subscribed.
Chinese online game developer Giant Interactive also said it will invest $50 million in Yunfeng Capital, which is co-founded by Alibaba Group Chairman Jack Ma.
Alibaba Group is the parent company of Alibaba.com, Taobao Mall, Taobao and AliCloud. Alibaba.com trading 3.5 percent higher at 0145 GMT (9:45 p.m. EDT).
Yahoo holds about 40 percent of Alibaba Group and will not be selling shares in the offer, the blog said.
Singapore-based investment firm Temasek, a shareholder in Alibaba Group, is also taking part in the offer.
The transaction would give Alibaba an enterprise valuation of $32 billion, the tech blog AllThingsD said, adding the group would get a stake of just under 5 percent if the offer is fully subscribed.
Chinese online game developer Giant Interactive also said it will invest $50 million in Yunfeng Capital, which is co-founded by Alibaba Group Chairman Jack Ma.
Alibaba Group is the parent company of Alibaba.com, Taobao Mall, Taobao and AliCloud. Alibaba.com trading 3.5 percent higher at 0145 GMT (9:45 p.m. EDT).
Yahoo holds about 40 percent of Alibaba Group and will not be selling shares in the offer, the blog said.
