There is no change in whether the stake is held by Alibaba Investment or not, unless the investors that absorbed the shares are in the position to provide a fillip to SingPost businesses or share trading
[SINGAPORE] National postal service provider Singapore Post (SingPost) had 151.3 million of its shares sold by Alibaba Investment on Sep 9, which reduced the holding of the Chinese e-commerce heavyweight Alibaba Group wholly owned subsidiary to 4.6 per cent from 11.3 per cent.
The sale at S$0.426 a share – lower than the counter’s 52-week-low of S$0.43 – yielded Alibaba Investment S$64.4 million in proceeds.
But the disclosure made by the former substantial shareholder to the Singapore Exchange did not name its counterparty in the off-market transaction.
