The deal will await the shareholders ' meeting of Tianhong Fund and the CSRC's final approval

Nem Mongjun, who is due to suspend business for a day later today, is issuing a notice that Alibaba will pay 1.18 billion yuan to subscribe to the Hong Fund Tianhong fund 262.3 million yuan of registered capital, accounting for the company's 51% stake. Earlier, Alibaba and Tianhong fund have joined hands to fight

October 9 News, a day later today's suspension of Nem Mongjun is issued a notice, Alibaba will invest 1.18 billion yuan to subscribe to Tianhong Fund Tianhong fund 262.3 million yuan of registered capital, accounting for the company's 51% equity.

Prior to this, Alibaba and Tianhong fund to create balance treasure, and the biggest highlight of the increase is Alibaba to its strong master. Previously, the market has been reported that the Tianhong fund will be with Ali to create new Internet fund products, merger or will give future cooperation between the two further pave the way.

At the same time, it is noteworthy that Tianhong fund management has also proposed to subscribe for the amount of $56.571 million registered capital contribution. This may improve the company's internal incentive mechanism. Conducive to long-term development of the company.

Currently, the deal will await the shareholders ' meeting of Tianhong Fund and the CSRC's final approval.