The Chinese e-commerce giant no longer holds substantial shareholder status in the Singapore postal service provider.

Alibaba Investment, a unit of Alibaba Group, has divested 151.28 million shares of Singapore Post (SingPost), reducing its ownership stake from 11.3% to 4.6%, thereby relinquishing its position as a substantial shareholder in the Singapore-based logistics company.

Based on a regulatory filing dated September 9, the SingPost shares were disposed of for $64.4 million, equivalent to $0.426 per share, through an off-market transaction.

Prior to this divestment, Alibaba held the position of SingPost's second-largest shareholder, as indicated in the company's most recent annual report.