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Softbank Says Additional Alibaba ADS Not Tied to Any Specific Future Softbank Transaction

Reuters2022-02-09

TOKYO, Feb 9 (Reuters) - Alibaba's recent registration of additional American Depository Shares is not tied to any specific future transaction by SoftBank Group Corp, a spokesperson for the Japanese conglomerate said on Wednesday.

"The registration of the ADR conversion facility (F6 filing, which was filed by Alibaba), including its size, is not tied to any specific future transaction by SBG," SoftBank said in a statement to Reuters.

E-commerce giant Alibaba last week filed to register an additional one billion American Depository Shares. The move, Citigroup analysts said this week, "might also suggest potential selling intention by SoftBank."

"Since Softbank has been a pre-IPO investor, we believe a large proportion of those shares have not been previously registered as ADS," Citi analysts including Alicia Yap wrote.

SoftBank's stake of around 25% in Alibaba is worth around $82 billion and has its origins in a $20 million investment in 2000. Alibaba's shares have fallen by 60% since highs in October 2020.

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  • Limwy
    ·2022-02-10
    No more spreading of fake news again. 
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  • Dindindino
    ·2022-02-09
    Like pls
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  • HENRYCSC
    ·2022-02-09
    Good 
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  • Joelchua
    ·2022-02-09
    Could the need for additional ADS signal demand from another whale then?
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  • DragonKC
    ·2022-02-09
    Speculation news always rock the stock markets. Those who made the comments was speculator for their own gain. 
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  • tkj
    ·2022-02-09
    Wow...$20 mil becomes $82 billion.....
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  • Bluem
    ·2022-02-09
    Hmmm
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  • Ahlec
    ·2022-02-09
    Not impossible for them to sell, but good that they clarified as least not anytime soon.
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  • ZelHo
    ·2022-02-09
    Like
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  • SCLIEW
    ·2022-02-09
    666
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  • BABASheep
    ·2022-02-09
    Any comments Ms "May" Yap? 🤭 or mission accomplished?
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  • Jhpuke
    ·2022-02-09
    [Cool] 
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  • huatverybig
    ·2022-02-09
    Good read. Clarify quite alot of things for me
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  • MrTig3r
    ·2022-02-09
    power
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  • gamer95
    ·2022-02-09
    Fud everywhere spreading fake news of softbank haha:D
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  • Erick27
    ·2022-02-09
    Good FUD to buy. [Miser] 
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  • Jasonngui
    ·2022-02-09
    Great 
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  • nctony
    ·2022-02-09
    I'm still looking at BaBa going below $100[Miser] 
    Reply
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