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Alibaba trims SingPost stake via married deal at 46 cents each

The Edge Singapore
The Edge Singapore  • 1 min read
Alibaba trims SingPost stake via married deal at 46 cents each
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Alibaba Group Holding, a substantial shareholder of Singapore Post S08 -

, has cut its stake in the latter via a married deal to an unnamed party.

According to an SGX filing on June 7, the China-based internet giant sold 72.5 million shares earlier in the day for $33.3 million, or around 46 cents each. 

This works out to a slight discount to SingPost's closing price of 49 cents on June 7.

This leaves Alibaba with a stake of 11.34%, down from 14.56% previously.

Alibaba first invested in SingPost back in 2014, paying $312.5 million for a 10% stake. It increased its holdings subsequently.

SingPost's largest shareholder remains Singtel, which holds around 21%. 

See also: Wee family increases stake in UOL

 

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