Movement Alert|ZTO EXPRESS-W Declines 4.45% in Regular Trading, Alibaba Reportedly Offloading $500 Million Stake via Block Trade

Market Focus09-22 13:23

On September 22, ZTO EXPRESS-W fell 4.45% in regular trading to HK$156.8 per share, with turnover surging to HK$941 million. The stock earlier touched an intraday low of HK$152, hitting its lowest level since November last year.

The decline was triggered by reports that Alibaba is selling approximately $500 million (roughly HK$3.9 billion) worth of ZTO Express ADR through an unregistered block trade, involving around 25 million ADR shares. The offering was reportedly priced at $20.02 per share, at the low end of the $20.02–$20.22 indicative range, representing a 4.5% discount to the prior Friday close of $20.96. Overnight, ZTO Express ADR had already fallen 7.2% to $19.45 in New York.

Meanwhile, ZTO EXPRESS-W has been actively buying back shares. On September 21, the company repurchased 499,161 ADR shares for approximately $9.61 million at prices between $18.96 and $20.00. Since its June 16 authorization, the company has cumulatively repurchased over 10.2 million shares out of a 76.6 million share buyback mandate.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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.

Comments

We need your insight to fill this gap
Leave a comment