Shares of Intime Retail (Group) Co Ltd were set to surge 38% when it resumes trade on Tuesday after Alibaba Group Holding Ltd joined forces with the founder of the department store operator to take it private for $2.6 billion. 

COMMERCIAL BREAK
SCROLL TO CONTINUE READING

Intime`s shares were set to open at HK$9.70. Trading in the stock had been halted since December 28. 

Alibaba Investment Ltd and Shen Guo Jun jointly offered to take Intime private for HK$10 per share, representing a 42.25% premium over its last trading price of HK$7.03 each.