Alibaba’s Ma, Tsai To Sell Up To 21.5 Million Shares

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Entities affiliated with Alibaba Group Holdings (BABA) founder Jack Ma and executive vice chairman Joe Tsai may sell up to 22.5 million shares of the company with the stock up more than 100% this year, according to a filing. At today’s price, that means the sale of up to $4 billion in shares. While significant, that’s less than 10% of each man’s holdings, and represents a small part of the company’s $443 billion market capitalization.

Alibaba shares were down 0.5% to $177.85 after hours Wednesday after rising 2% in regular trading. The sales would be part of a 10b5-1 planned sale program, for “wealth planning and to meet philanthropic commitments,” according to an Securities and Exchange Commission filing dated and provided Sept. 13 on Alibaba’s website. It reads:

JC Properties Limited and JSP Investment Limited, entities affiliated with Jack Ma, founder and executive chairman of Alibaba Group Holding and The Jack Ma Philanthropic Foundation … adopted a pre-arranged share sales plan … for the sale of up to 16 million shares of the Company over a 12-month period commencing in October 2017. The 16 million shares of the Company represent approximately 9% of the holdings under Mr. Ma’s beneficial ownership.
PMH Holding Limited and Parufam Limited, entities affiliated with Joseph C. Tsai, executive vice chairman of the company, and Joe and Clara Tsai Foundation, the philanthropic foundation affiliated with Mr. Tsai, have adopted a pre-arranged share sales plan … for the sale of up to 5.5 million shares of the Company over a 12-month period commencing in October 2017. The 5.5 million shares of the Company represent approximately 8% of the holdings under Mr. Tsai’s beneficial ownership.

Entities affiliated with Alibaba Group Holdings (BABA) founder Jack Ma and executive vice chairman Joe Tsai may sell up to 22.5 million shares of the company with the stock up more than 100% this year, according to a filing.

At today’s price, that means the sale of up to $4 billion in shares. While significant, that’s less than 10% of each man’s holdings, and represents a small part of the company’s $443 billion market capitalization.

Alibaba shares were down 0.5% to $177.85 after hours Wednesday after rising 2% in regular trading. The sales would be part of a 10b5-1 planned sale program, for “wealth planning and to meet philanthropic commitments,” according to an Securities and Exchange Commission filing dated and provided Sept. 13 on Alibaba’s website. It reads:

Source: barrons.com

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