Momo Shares Surge On Alibaba's Interest

CHINA DAILY - Apr 7 - Momo surged 33.6% after a regulatory filing showed Alibaba Group Holding's finance affiliates joined the group seeking to take the company private. Momo closed at $16.09 per American depository receipt on Wednesday, up $4.05, marking its biggest gain since the dating platform went public, raising $248M on the NASDAQ in Dec '14. Analysts expect the privatization to proceed more smoothly with strong backing, as according to Bloomberg, only 7 out of the 40 US traded Chinese firms that earlier proposed privatization over the past 12 months have completed the process.