AliExpress International and Gmarket are creating a 50-50 joint venture, according to a stock exchange filing by E-Mart which confirmed a report by Bloomberg News. The companies plan to make further investments in the JV, which will own 100% of Gmarket.
The new entity could be valued at about $4 billion, people familiar with the matter told Bloomberg, asking not to be identified discussing confidential information. E-Mart shares rose 5.5% in Seoul, giving the company a market value of $1.4 billion. Alibaba's Hong Kong-listed stock has gained around 11% this year, valuing the firm at more than $200 billion.
This story is from the December 27, 2024 edition of Financial Express Mumbai.
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This story is from the December 27, 2024 edition of Financial Express Mumbai.
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