Hong Kong CNN —Jack Ma has put off plans to sell hundreds of millions of dollars worth of Alibaba shares after the Chinese tech giant’s stock plummeted last week.
Two regulatory filings from last Thursday revealed that Ma had been looking to offload 10 million shares, worth nearly $871 million.
Ma believes that the Hangzhou-based firm’s stock “is currently significantly lower than Alibaba’s actual value, and he will not sell it,” she said.
Alibaba co-founder Jack Ma.
Since then, the entrepreneur has kept a relatively low profile while remaining an Alibaba shareholder.
Persons:
Jack Ma, Ma, Jane Jiang Fang, Alibaba, Alibaba’s, Jiang, ”, Joe Tsai, Henri Szwarc, Ma’s
Organizations:
Hong Kong CNN, CNN, JC Properties, JSP Investment, Abaca, South China Morning Post, Hong Kong, Alibaba
Locations:
China, Hong Kong, Alibaba, New York, Hangzhou