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Alibaba-linked online grocer buys SunMoon stake

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Published Fri, Oct 7, 2016 · 09:50 PM

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SUNMOON Food Company, a fresh food distributor, on Friday said it will place out S$15 million in new shares to Shanghai Yiguo E-Commerce, a Chinese fresh food retailer with a "strategic partnership" with Alibaba.

Following the placement, the investor will hold about 51.1 per cent of the enlarged share base. The placement involves 333 million shares at S$0.045 per placement share.

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