Foxconn Ventures has sold US$398.4 million worth of Alibaba Group Holding Limited’s shares, Reuters reported Wednesday, citing people familiar with the block trade managed by Goldman Sachs Group.
The sale involved 2.2 million Alibaba shares at US$181.10 apiece, the sources said, asking not be identified ahead of any official announcement.
None of Alibaba’s top five institutional shareholders have adjusted their holdings in the last three months, according to the company’s ownership summary maintained on Nasdaq’s website. Foxconn Ventures is not among those investors.
Mile a minute: Early StageMile a minute: Early Stage
After years of diversification, Alibaba is still an e-commerce companyAfter years of diversification, Alibaba is still an e-commerce company
US adds Huawei to blacklist, spurring Sino-US tech decouplingUS adds Huawei to blacklist, spurring Sino-US tech decoupling
Chrisanti Indiana of Sociolla on building beauty’s ecosystem: Women in TechChrisanti Indiana of Sociolla on building beauty’s ecosystem: Women in Tech
Reviving trust: P2P lending in VietnamReviving trust: P2P lending in Vietnam