Jack Ma's Family Trust to Sell 10 Mln Shares in China's Alibaba
Reuters2023-11-16
Chinese billionaire Jack Ma's family trust is set to sell 10 million American Depository Shares of Alibaba Group Holdings, for about $871 million, the ecommerce company said in regulatory filings.
The sale will be done on Nov. 21 by JSP Investment and JC Properties, funds that are part of the family trust.
Alibaba and the Jack Ma Foundation, the philanthropic organization that handles media queries for the billionaire, did not immediately respond to requests for comment.
Ma stepped down as chairman of Alibaba in 2019. The company is currently led by Eddie Wu, one of the co-founders and a long-time lieutenant of Ma.
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.
