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Aya Lin · · 1 min readIn brief: Baidu, Youzan to pour cash into Qima for mini-program development
- China’s Baidu and mobile retail solutions provider Youzan have agreed to pour cash into Qima, a Youzan subsidiary primarily engaged in ecommerce, to cooperate on mini program development, KrAsia reported.
- According to Youzan’s Hong Kong Stock Exchange filing, it will buy 26.6 million shares from Qima for US$45 million, while Baidu SPV will purchase 17.7 million shares for US$177.
- Simultaneously, Baidu Online will buy Qima warrants, which can be transferred as 17.7 million shares for about US$30 million.
- Upon completion, Youzan’s stake in Qima will go from 50.47% to 50.76%, while Baidu will indirectly hold a minority stake.
Editing by Charmaine de Lazo
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