Alibaba Affiliate to Dispose Stake in YTO Express

MT Newswires Live

03/19

An affiliate of Alibaba (HKG:9988) plans to dispose of part of its stake in YTO Express (SHA:600233), according to a Thursday filing with the Shanghai bourse.

Hangzhou Haoyue Enterprise Management plans to offload 68,453,244 shares, or 2% of the logistics company's total share capital, between April 10 and July 9% through block trading.

Currently, Haoyue Enterprise owns 241,793,619 shares, or 7.06% of YTO's total share capital.

YTO Express' shares slipped 1%, while Alibaba's shares dropped 3% during the morning trade.

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