Alibaba Group Holding, a substantial shareholder of Singapore Post S08 , has cut its stake in the latter via a married deal to an unnamed party.
According to an SGX filing on June 7, the China-based internet giant sold 72.5 million shares earlier in the day for $33.3 million, or around 46 cents each.
This works out to a slight discount to SingPost's closing price of 49 cents on June 7.
This leaves Alibaba with a stake of 11.34%, down from 14.56% previously.
Alibaba first invested in SingPost back in 2014, paying $312.5 million for a 10% stake. It increased its holdings subsequently.
SingPost's largest shareholder remains Singtel, which holds around 21%.
See also: Stamford Land’s executive chairman ups stake to 46.059%
