Alibaba co-founder Joseph Tsai to reduce stake in company- Bloomberg News

Alibaba co-founder and executive vice chairman Joseph Tsai has indicated he plans to sell part of his stake in the company through Morgan Stanley, Bloomberg News reported on Friday.

A holding company for Tsai filed this month to sell 3 million of the Chinese firm's American depositary receipts - which make up roughly 8 per cent of his holding, Bloomberg reported, citing data from The Washington Service - a provider of insider trading data, adding that the document indicated a trading plan.

The stake is worth about $260 million, based on Thursday's closing price, according to the Bloomberg report. Alibaba and Morgan Stanley did not immediately respond to requests for comment. The holding company, Blue Pool Capital, could not immediately be reached for comment.

France Dernières Nouvelles, France Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

FTX bankruptcy judge to hear media companies' request to reveal customer namesA group of media companies is set to argue on Friday to the U.S. judge overseeing the FTX bankruptcy that they should be allowed to request that the collapsed crypto exchange make public the names of its customers.In seeking to intervene in the case, the New York Times, Dow Jones, Bloomberg and the Financ
La source: ChannelNewsAsia - 🏆 6. / 66 Lire la suite »