Alibaba Health Information Technology to buy AJK Technology for $1.73 billion

Investment holding company Alibaba Health Information Technology Ltd said on Tuesday it would buy entire stake in AJK Technology Holding Ltd from a unit of Alibaba Group Holding for HK$13.51 billion ($1.73 billion).

Alibaba Health would issue 2.56 billion consideration shares at an issue price of HK$4.50 and pay the U.S. dollar equivalent of HK$2 billion in cash to the Alibaba Group unit, Taobao Holding Ltd.