Slaughter and May, Hong Kong, advised Alibaba Health Information Technology Limited (Alibaba Health) on its placing of 498,753,118 new shares under a general mandate to professional, institutional and/or individual investors. The newly issued shares represent approximately 3.71% of the enlarged issued share capital of Alibaba Health. The net proceeds of the placing are approximately HK$10 billion (US$1.29 billion) and will be used to develop Alibaba Health’s pharmaceutical and healthcare omni-channel business, medical and healthcare services business, digital infrastructure and innovative business. Citigroup Global Markets Limited and Credit Suisse (Hong Kong) Limited acted as placing agents.
Alibaba Health is Alibaba group’s healthcare flagship platform and is committed to providing Internet technology, service tools and platforms to industry partners, with the aim of providing accessible and affordable medical and healthcare services to the public so as to make good health achievable at the fingertips. The principal activities of Alibaba Health group comprise the sale of pharmaceutical and healthcare products and services and the provision of Internet-based medical services, consumer healthcare services and intelligent medicine services, provision of tracking services and other innovative services.