Kuries wrote a post · Jan 12, 2023 20:52

Alibaba sells Paytm stake worth US$125m via block deal, says source

Shares of the company fell as much as 8.8 per cent to 528 rupees (S$8.61) in afternoon trading, and was down 5.8 per cent as at 3 pm Indian Standard Time.

The source, who requested anonymity, said that Alibaba sold the stake at 536.95 rupees per share. It held a 6.26 per cent stake in Paytm as at end-September.

Alibaba sells Paytm stake worth US$125m via block deal, says source

The source added that $Morgan Stanley(MS.US)$ advised Alibaba on the deal.

In November, $Softbank Holdings(BK2558.US)$ sold a 4.5 per cent stake in the e-payments firm worth US$200 million. It had a 17.5 per cent stake in Paytm as at Sep 30.

$ALIBABA GROUP HOLDING LTD(BABAF.US)$ $Alibaba(BABA.US)$ $BABA-SW(09988.HK)$ $Hang Seng TECH Index(800700.HK)$ $China Concept Stocks(BK2517.US)$

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whqqq : Why sell?

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Kuries

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