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Search resuls for: "Kiyoshi Takenaka Ankur Banerjee"


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☆ Alibaba's Hong Kong shares slump on SoftBank's stake sale report
  + stars: | 2023-04-13 | by ( Kiyoshi Takenaka Ankur Banerjee | Kiyoshi Takenaka | Ankur Banerjee | ) www.reuters.com   time to read: +5 min
Alibaba, one of the most valuable assets in SoftBank's portfolio, tumbled as much as 5.2% in Hong Kong and closed down about 2%. On Wednesday, the FT said forward sales based on filings at the U.S. Securities and Exchange Commission showed SoftBank's Alibaba stake would eventually fall to 3.8% from almost 15%. The Japanese group, led by billionaire founder Masayoshi Son, has sold about $7.2 billion worth of Alibaba shares this year through prepaid forward contracts, the newspaper said. "It is well within the realms of expectations that the proportion of Chinese shares among its total investment will shrink further." In New York, Alibaba's shares were up 3% as analysts noted that the stake sale was more due to SoftBank's circumstances.
☆ Alibaba shares plunge on SoftBank's stake sale report
  + stars: | 2023-04-13 | by ( Kiyoshi Takenaka Ankur Banerjee | Kiyoshi Takenaka | Ankur Banerjee | ) www.reuters.com   time to read: +4 min
TOKYO, April 13 (Reuters) - Japanese technology investor SoftBank Group Corp (9984.T) has moved to sell almost all of its remaining shares in Alibaba Group Holding Ltd (9988.HK), , the Financial Times reported, sending the Chinese e-commerce major's stock tumbling. Alibaba, one of the most valuable assets in SoftBank's portfolio, tumbled as much as 5.2% in Hong Kong after the report before paring the loss to 2.8%. SoftBank has been seeking ways to monetise its stake in Alibaba, which the Japanese conglomerate bought into more than two decades ago with just $20 million spending. On Wednesday, the FT said forward sales based on filings at the U.S. Securities and Exchange Commission showed SoftBank's Alibaba stake would eventually fall to 3.8% from almost 15%. The Japanese group, led by billionaire founder Masayoshi Son, has sold about $7.2 billion worth of Alibaba shares this year through prepaid forward contracts, the newspaper said.
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