Future of Sport: A Global Sports Week x Viva Technology Collaboration, Will Open in June 14
12 Jun 2023 14:59
China's Guangzhou Evergrande Taobao FC announced last Thursday that the club has recently raised 869.36 million yuan (132 million U.S. dollars) by issuing 21.734 million shares on the National Equities Exchange and Quotations (NEEQ).
The deal, as announced, sees the CSL club valued at US$2.4 billion, which is very close to that of Premier League giant, Manchester United (US$2.53bn).
Evergrande Group, the largest shareholder of the club, currently holds 56.71% of the CSL club’s shares after the equity issues, while Alibaba, China’s largest e-commerce giant, remains the club’s second largest stakeholder with 37.81% of shares.
The new investors paid RMB40 per share for their stakes, and a fund managed by Shenzhen's Foresea Kaynes Investment became Evergrande’s third largest shareholder with a 1.16% stake.
Guangzhou Evergrande Taobao FC is a 5-time winner of the CSL and has just lifted the AFC Champions League last December.
Source: china.org.cn
Proofread by John Devlin.
Future of Sport: A Global Sports Week x Viva Technology Collaboration, Will Open in June 14
12 Jun 2023 14:59
Related coverage
Le Sports to start a new round of war for sports rights?
02 Nov 2015
Favorable interaction required for healthy development of Chinese football
18 Jan 2017
Overseas learning for teachers and coaches of campus football
23 Mar 2015
Report on CFA's separation from China's Sports Administration: (II)
19 Aug 2015
Chinese Super League rights fees rose to RMB200M
16 Jul 2015
More from Yutang Sports
SportAccord calls for the power of sport to lead anti-abuse actions
17 Apr 2024
SportAccord's interview with Sarah Gregorius: proactive actions are necessary to tackle online abuse
28 Apr 2024
Interview with Andreas Zagklis: to keep popularization of basketball with all-round strategy
08 Jul 2024
Registration open - SportAccord World Sport & Business Summit
18 Dec 2023
Ingmar De Vos elected as the next ASOIF President
10 Apr 2024
Yutang Sports
loading...