×
312
Fashion Jobs
NEW BALANCE
Office Administrator (Part Time)
Permanent · Warrington
ARCADIA GROUP
Talent Acquisition Projects Partner
Permanent · LONDON
TOPSHOP TOPMAN
Online Visual Merchandising Manager
Permanent · London
TOPMAN
Buyer (Maternity Cover)
Permanent · London
TK MAXX
Loss Prevention Officer - Bristol
Permanent · Bristol
ARCADIA GROUP
Information Security (Infosec) Officer
Permanent · London
SHISEIDO
Accounts Payable Manager
Permanent · LONDON
TK MAXX
Shift Operations Manager
Permanent · Stoke-on-Trent
SANDRO UK
Senior Sales / Supervisor m/f
Permanent · LONDON
TOPSHOP TOPMAN
Senior Digital Visual Merchandising Manager (Maternity Cover)
Permanent · London
BURTON
Senior Buyer - Tailoring - Maternity Cover
Permanent · LONDON
TOPSHOP TOPMAN
Senior Marketing Manager
Permanent · London
TJX CORPORATE
Information Technology Graduate (2021)
Permanent · WATFORD
SHISEIDO
Bareminerals Account Manager - Hoopers, Wilmslow (Maternity Cover) (37.5)
Permanent · Manchester
SHISEIDO
Bareminerals Account Manager - Debenhams, Winchester (Maternity Cover)
Permanent · Hampshire
SHISEIDO
Bareminerals Account Manager - Debenhams, Ipswich (37.5)
Permanent · Ipswich
REISS
Supervisor
Permanent · ASHFORD
REISS
Assistant Branch Merchendiser
Fixed-term · LONDON
HOMESENSE
Temporary Store Associates - Homesense Nottingham
Fixed-term · Nottingham
SKINSPIRIT UK
Ecommerce Admin Assistant
Internship · GUILDFORD
LEVI'S
Back of House Key Holder 28 Hrs - Temp Contract
Fixed-term · Ellesmere Port
JASON ALEXANDER
Christmas Sales Opportunities - London & Bicester
Temp/seasonal · LONDON
Advertisements
By
Reuters API
Published
Jul 13, 2020
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Alibaba's Jack Ma sells $9.6 billion worth shares, stake dips to 4.8%

By
Reuters API
Published
Jul 13, 2020

Alibaba Group Holding Ltd co-founder Jack Ma has cut his stake in the company over the past year to 4.8% from 6.4%, cashing out around $9.6 billion (£7.59 billion) at its current share price, the firm's annual filing released on Friday showed.


Jack Ma



The divestment comes as Ma retired as the Chinese e-commerce company's executive chairman in September and pulled back from formal business roles to focus on philanthropy.

Alibaba did not disclose the average selling price of his divestment. Its share price has risen around 40% since Ma reported his 6.4% holding in the company a year ago.

The stock's stellar performance has been helped by forecast-beating earnings growth, even as China's economy sharply slows, as more people shop online for essentials due to the COVID-19 pandemic.

Alibaba Executive Vice Chairman Joseph Tsai also reduced his stake in the company over the same period, from 2.3% to 1.6%. The offloaded shares were worth $4.1 billion as of Friday.

Both Ma and Tsai have been steadily less involved in Alibaba's regular operations since Daniel Zhang was announced as Ma's successor as company chairman. He assumed that role formally in September 2019.

Throughout this year, the two have donated millions of units of personal protective equipment (PPE) via their individual charity arms to hospitals worldwide to help fight the spread of COVID-19.

An April 2019 filing with the U.S. Securities and Exchange Commission stated that Ma would plan to sell up to 21 million shares within one year to support his philanthropic efforts.

© Thomson Reuters 2020 All rights reserved.

Tags :
Others
Business