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2023-11-17

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Jack Ma Positive on Alibaba, Will Continue to Hold Shares

- Alibaba co-founder Jack Ma is "very positive" about the company and will continue to hold its shares, the South China Morning Post reported on Friday, citing a communiqué from his office.Alibaba shares slipped 2% in morning trading.The comments from Ma's office come a day after a regulatory filing showed that his family trust was set to sell 10 million American Depository Shares of Alibaba Group Holdings, for about $871 million.The phased sale is part of a long-standing "preset conditional pl

Jack Ma Positive on Alibaba, Will Continue to Hold Shares

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is part of a long-standing \"preset conditional pl","content":"<html><head></head><body><p>(Reuters) - Alibaba co-founder Jack Ma is &#34;very positive&#34; about the company and will continue to hold its shares, the South China Morning Post reported on Friday, citing a communiqué from his office.</p><p>Alibaba shares slipped 2% in morning trading.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a2b1f8ae35be2d8fd9a8fe204168fb30\" tg-width=\"816\" tg-height=\"830\"/></p><p>The comments from Ma&#39;s office come a day after a regulatory filing showed that his family trust was set to sell 10 million American Depository Shares of Alibaba Group Holdings, for about $871 million.</p><p>The phased sale is part of a long-standing &#34;preset conditional plan to do a partial sell-down for the future&#34; that was adopted in August, but &#34;not a single share has been sold,&#34; the publication quoted Ma&#39;s office as saying.</p><p>&#34;We believe the current stock price 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22:46</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>(Reuters) - Alibaba co-founder Jack Ma is &#34;very positive&#34; about the company and will continue to hold its shares, the South China Morning Post reported on Friday, citing a communiqué from his office.</p><p>Alibaba shares slipped 2% in morning trading.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a2b1f8ae35be2d8fd9a8fe204168fb30\" tg-width=\"816\" tg-height=\"830\"/></p><p>The comments from Ma&#39;s office come a day after a regulatory filing showed that his family trust was set to sell 10 million American Depository Shares of Alibaba Group Holdings, for about $871 million.</p><p>The phased sale is part of a long-standing &#34;preset conditional plan to do a partial sell-down for the future&#34; that was adopted in August, but &#34;not a single share has been sold,&#34; the publication quoted Ma&#39;s office as saying.</p><p>&#34;We believe the current stock price is below its fair value.&#34;</p><p>Alibaba did not respond to a Reuters request for comment.</p><p>The sale will be on Nov. 21 by JSP Investment and JC Properties, funds that are part of Ma&#39;s family trust.</p><p>The share sale announcement, together with Alibaba&#39;s Thursday statement about scrapping plans to list its cloud unit in the light of U.S. chip import curbs, dragged the company&#39;s Hong Kong shares down nearly 10% on Friday.</p><p>Ma stepped down as Alibaba chairman in 2019 but remains a major shareholder through his family trust.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LU0128525689.USD":"TEMPLETON GLOBAL BALANCED \"A\"(USD) ACC","BK4505":"高瓴资本持仓","BK4504":"桥水持仓","LU1105468828.SGD":"Allianz Total Return Asian Equity AM DIS H2-SGD","LU0067412154.USD":"UBS (LUX) EQUITY FUND -  CHINA OPPORTUNITY \"P\" (USD) ACC","BK4581":"高盛持仓","LU0310800965.SGD":"FTIF - Templeton Global Balanced A Acc 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