The Business Times
The Business Times
Subscribe
Share on FacebookShare on TwitterView more
The Business Times
Create a free account with Business Times for seamless access across SPH Media products.
REGISTER
LOGIN

Companies & Markets

SUBSCRIBERS

Alibaba's Joseph Tsai joins Momo board, reviving buyout wagers

Published Wed, Feb 24, 2016 · 09:50 PM
Share this article.

New York

MOMO Inc surged after naming Alibaba Group Holding's vice-chairman to its board, stoking speculation that the Chinese maker of a dating app may be able to complete a management-led buyout with help from the country's biggest online retailer.

The American Depositary Receipts (ADR) of Momo rose 20 per cent to US$12 in New York on Tuesday, the most since May 2015, as Momo said that Alibaba co-founder Joseph Tsai has joined its board as a director. The e-commerce company invested in Momo before the company went public in December 2014.

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to  t.me/BizTimes

Consumer & Healthcare

SUPPORT SOUTH-EAST ASIA'S LEADING FINANCIAL DAILY

Get the latest coverage and full access to all BT premium content.

SUBSCRIBE NOW

Browse corporate subscription here