Alibaba Divests 151.28 Million SingPost Shares, Reducing Ownership to 4.6%; Singpost Down 2%
TigerNews SG
Sep 10
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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.