Nov 18, 2023 03:54 AM

TECH

Jack Ma’s Family Trust to Sell $871 Million Alibaba Shares

By Bao Yunhong and Denise Jia

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What’s new: Alibaba co-founder Jack Ma’s family trust plans to sell 10 million American depository receipts (ADRs) of Alibaba for about $871 million, regulatory filings showed Wednesday.

The shares will be divested Nov. 21 by JSP Investment Ltd. and JC Properties Ltd., British Virgin Islands-registered funds that are part of Ma's family trust, according to the filings with the U.S. Securities and Exchange Commission.

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