Chinese based Alibaba Group, which specialises in e-commerce goods, has moved to invest $692 million to Hong Kong-listed Intime Retail Group.

The investment in retail infrastructure comes as the e-commerce group moves to develop nline-to-offline, bringing online services to retail infrastructure.

The investment comes as part of a series of recent acquisitions and purchases, with over $2.7 billion spent in recent months in a variety of markets, including media, communication and technology services.

The spree of large purchases come as the Alibaba Group prepares for an IPO in the U.S. which is set to be the largest technology listing ever, beating Facebook previous record from 2012.

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