Zhang Jindong may lose control of Suning | Market

Zhang Jindong may lose control of Suning | Market
Zhang Jindong may lose control of Suning | Market

Today the announcement of a sale of the shares of Suning to a Chinese state fund, but as reported by Sina.Com Zhang Jindong it could also risk losing ownership of the entire Suning.com holding company.

In the agreements, in fact, Zhang undertakes to repurchase all the shares transferred within 10 months, i.e. before 1 April 2022, at the same amount collected plus the reference income calculated at 3.85% of annualized simple interest. If he fails to keep his commitment, it says, Zhang Jindong would also risk losing ownership of the entire holding.

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Zhang Jindong lose control Suning Market

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