Alibaba-backed Easyhome to float new retail unit in $5.7b reverse merger

Alibaba-backed Easyhome to float new retail unit in $5.7b reverse merger

Employees and visitors take selfie photographs in front of Alibaba Group Holding Ltd. signage at the company's headquarters in Hangzhou, China, on Friday, Sept. 8, 2017. Photographer: Qilai Shen/Bloomberg

Alibaba-backed home improvement chain Easyhome will take its new retail arm public via a deal worth up to $5.65 billion with a Chinese state-backed listed retail conglomerate, showed stock exchange statements published late on Thursday.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter