Alibaba sells 151.28m SingPost shares, slashes stake to 4.6%

It is no longer a substantial shareholder in SingPost.

Alibaba Investment, a subsidiary of Alibaba Group, has sold 151.28 million Singapore Post (SingPost) shares, cutting its stake in the Singapore company from 11.3% to 4.6% and ceasing to be a major shareholder.

According to a bourse filing on 9 September, Alibaba’s SingPost shares were sold for $64.4m, or $0.426 apiece, in an off-market deal.

Before the sale, Alibaba was SingPost’s second-largest shareholder according to the company’s latest annual report.

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