Alibaba Plans to Sell About $500M in ZTO Express Shares via Block Trade
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According to a report from Chinese financial media outlet Cailianshe on September 22, Alibaba Group is planning to sell approximately $500 million worth of shares in ZTO Express (Cayman) Inc. through a block trade. The transaction, which is reportedly in the works, would involve the disposal of a significant stake in the Chinese logistics and delivery company. The report cites sources familiar with the matter but does not provide further details on the pricing or timeline of the block trade. This move comes as Alibaba continues to adjust its investment portfolio amid a challenging economic environment and regulatory scrutiny in China. ZTO Express is one of China's largest express delivery companies and a key partner in Alibaba's e-commerce logistics network. The sale, if completed, could signal a shift in Alibaba's strategy regarding its logistics investments.
Source report
September 22 — Alibaba is reportedly planning to sell approximately $500 million worth of shares in ZTO Express through a block trade, according to sources familiar with the matter.
Source
财联社Eastern
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Alibaba sells $500 million ZTO Express stake, shares drop 7.2%