Alibaba lures Singapore investors
The shares are being sold by Japanese telecommunications company SoftBank Group which is selling down its Alibaba investment. The new deal values its sell-down at $8.9 billion over two days.
The deal is scheduled to close on June 10, leaving SoftBank with a 28 per cent stake in China’s largest eCommerce company.
SoftBank started in 1981 as a distributor of packaged software.