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Ant group’s Alipay set to exit Zomato in $395 mn block deal

Livemint

Livemint · 1y ago

Ant group’s Alipay set to exit Zomato in $395 mn block deal

Ant Group's payments platform, Alipay, is planning to sell its shares in Zomato Ltd, a popular online food delivery company, in a $395 million block deal. This move follows a partial stake sale by SoftBank Group last month. Alipay is expected to sell 296 million shares at a price of ₹111.28 apiece. Bofa Securities India and Morgan Stanley are facilitating the trade. Alipay currently holds a 3.44% stake in Zomato.

Related News

Ant Financial likely to sell 2% stake in Zomato for Rs 2,800 crore via block deal: Report

Economic Times

Economic Times · 1y ago

Ant Financial likely to sell 2% stake in Zomato for Rs 2,800 crore via block deal: Report

Ant Financial Group is reportedly planning to sell a 2% stake in Zomato, the online food delivery aggregator. The block deal is expected to fetch around Rs 2,810 crore, with the floor price set at Rs 159.4 per share. This move follows Ant Group's exit from Zomato in November 2021, when it sold a 3.4% stake. Zomato's shares have seen a significant increase in value over the past year, with the company reporting consecutive quarters of profits and strong revenue growth. Mutual funds have also increased their stake in the company.

Zomato Block Deal: Antfin Singapore to sell $408M in shares

Inshorts · 1y ago

Zomato Block Deal: Antfin Singapore to sell $408M in shares

Amid Zomato’s bull run on the bourses, Ant Group’s arm Antfin Singapore is reportedly looking to sell the foodtech giant’s shares worth $408 Mn (INR 3,422.84 Cr). As per a report by CNBC-TV18, Antfin Singapore intends to sell 13.6 Cr shares, or a 1.54% stake, via a block deal on Tuesday (August 19).

Ant Financial to net nearly 6X return on investment from Zomato parent stake sale - The Economic Times

Economic Times

Economic Times · 20d ago

Ant Financial to net nearly 6X return on investment from Zomato parent stake sale - The Economic Times

Ant Financial, an Alibaba affiliate, is set to sell its remaining 1.9% stake in Eternal, the parent of Zomato and Blinkit, through block deals, generating Rs 5,370 crore. This brings its total proceeds from stake sales to over Rs 18,000 crore, nearly six times its initial investment. The move follows its complete exit from Paytm. Eternal's market cap is around $33 billion, and despite recent profit drops, analysts have a positive outlook.

Zomato shares up 4% amid block deal buzz, market cap surpasses INR 1 Lakh Cr

Inc42 · 1y ago

Zomato shares up 4% amid block deal buzz, market cap surpasses INR 1 Lakh Cr

Shares of Zomato, the foodtech giant, surged over 4% and reached a high of INR 119 during Wednesday's session. The company's market capitalization crossed INR 1 Lakh Cr. The rally was sparked by a block deal where Zomato's shares were traded at an average price of INR 112 per share, with a total transaction value of INR 3,326 Cr. It was reported that Alipay Singapore Holding was looking to sell its entire 3.44% stake in Zomato.

Ant Financial pockets 4X profit on partial Zomato exit

The Arc Web

The Arc Web · 1y ago

Ant Financial pockets 4X profit on partial Zomato exit

Ant Financial has sold a 3.44% stake in Zomato for Rs 3,326 crore ($400 million), marking its second partial exit from the company. With this sale, Ant has earned close to $600 million on its Zomato investment, still holding a 6.4% stake in the company. Ant had initially invested Rs 3,242 crore ($390 million) in Zomato in various funding rounds. The Chinese firm was expected to invest an additional $100 million in 2020 but faced restrictions on funding from Chinese companies, prompting Zomato to accelerate its IPO plans.

Antfin Singapore Likely To Offload Up To 2% Stake In Zomato For INR 2,800 Cr

Inc42 · 1y ago

Antfin Singapore Likely To Offload Up To 2% Stake In Zomato For INR 2,800 Cr

Antfin Singapore Holdings, a subsidiary of China's Ant Group, is reportedly planning to sell up to 2% of its stake in foodtech giant Zomato. The company is looking to divest 17.64 crore shares in a block deal at around INR 159.4 per share. This move comes as Zomato's shares have tripled in value over the past year, driven by the company's improving financials. Zomato recently reported its third consecutive profitable quarter, with a 283% increase in consolidated profit after tax in Q3 FY24. Other major investors have also sold their stakes in Zomato to secure profits.

SoftBank to offload 1.1% stake in Zomato worth Rs 1,024 crore via bulk deal

Economic Times

Economic Times · 1y ago

SoftBank to offload 1.1% stake in Zomato worth Rs 1,024 crore via bulk deal

Japanese tech giant SoftBank is reportedly set to sell a 1.1% stake in food delivery company Zomato for around Rs 1,024 crore. This block deal follows a previous sale in August and is part of SoftBank's strategy to reduce its stake in the company. Zomato shares closed down 2% at Rs 111.40 on NSE.

Ant Group nets 4X return on investment in Zomato after latest part stake sale

Economic Times

Economic Times · 1y ago

Ant Group nets 4X return on investment in Zomato after latest part stake sale

Ant Group, the affiliate of Alibaba, has sold shares in Indian food delivery company Zomato worth over Rs 4,772 crore. This brings its total proceeds from selling stakes in the company to Rs 12,521 crore. Ant Group had initially invested Rs 3,246 crore in Zomato between 2018 and 2020. The latest stake sale marks a nearly fourfold return on Ant Group's investment. Zomato's stock price has been rising due to the growing value of its quick commerce unit Blinkit. Ant Group still holds a 2.1% stake in Zomato.

Jack Ma-backed Ant to add Circle’s Stablecoin to global net

Economic Times

Economic Times · 1m ago

Jack Ma-backed Ant to add Circle’s Stablecoin to global net

Ant Group, backed by Jack Ma, plans to integrate Circle Internet Group’s stablecoin, USDC, into its blockchain platform. This move follows the US Senate's new regulations on stablecoins. As stablecoins gain more acceptance, Ant is also seeking licenses in Singapore and Hong Kong. The collaboration aims to bolster Ant's blockchain capabilities, crucial for its treasury management and global transactions. Circle's shares rose following the announcement, reflecting optimism in the cryptocurrency market.

Antfin likely to offload entire Rs 5,368 cr stake in Eternal via block deal: Report - The Economic Times

Economic Times

Economic Times · 20d ago

Antfin likely to offload entire Rs 5,368 cr stake in Eternal via block deal: Report - The Economic Times

Antfin Singapore, affiliated with Ant Group, intends to sell its entire 1.95% stake in Eternal, equivalent to 18.84 crore shares, through a block deal. The shares are priced at Rs 285 each, totaling approximately Rs 5,368 crore. This move follows Antfin's recent divestment from Paytm. This significant business shift highlights Antfin's strategic reallocation of resources within the Indian market. More details are forthcoming.

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