China: Alibaba Pictures Group invests $154m in Dadi Cinema Construction via convertible bonds

China: Alibaba Pictures Group invests $154m in Dadi Cinema Construction via convertible bonds

Alibaba Pictures Group, the movies division of Chinese e-commerce giant Alibaba, has committed to an investment of RMB1 billion ( $154 million) in convertible bonds issued by movie exhibitor Guangdong Dadi Cinema Construction.

The move marks Alibaba Pictures’ foray into the Chinese cinema industry, the company said in an announcement. 

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