Temasek cuts stake in Alibaba

It sold 14.5m American depositary receipts.

State-owned Temasek Holdings pared its stakes in China's biggest online retailer, Alibaba Group Holding Ltd. in the third quarter as the shares rallied.

It has sold 14.5 million American depositary receipts, leaving it with 39.6 million at the end of September, worth US$4.2 billion, according to a filing with the US Securities and Exchange Commission on Monday.

According to Bloomberg, this came while Temasek bought stock in Internet travel agency Ctrip.com International Ltd, biopharmaceutical company AC Immune SA and Dell Technologies Inc.

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