Chinese technology giant Alibaba Group Holding Limited (NYSE: BABA) has reduced its stake in XPeng Motors for the third time in several months. The multinational submitted a filing to the U.S. Securities and Exchange Commission (SEC) disclosing the sale of 33 million XPeng American Depository Shares (ADS) worth around $317 million through its subsidiary Taobao China Holding Limited.
Alibaba’s filing indicated it was selling XPeng ADS acquired in September 2019 as pre-IPO investments. XPeng had its U.S. initial public offering nearly a…
About ChineseWire
ChineseWire (“CW”) is a specialized communications platform with a focus on promising China-based companies that are listed in North America. It is one of 60+ brands within the Dynamic Brand Portfolio @ IBN that delivers: (1) access to a vast network of wire solutions via InvestorWire to efficiently and effectively reach a myriad of target markets, demographics and diverse industries; (2) article and editorial syndication to 5,000+ outlets; (3) enhanced press release enhancement to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of tailored corporate communications solutions. With broad reach and a seasoned team of contributing journalists and writers, CW is uniquely positioned to best serve private and public companies that want to reach a wide audience of investors, influencers, consumers, journalists and the general public. By cutting through the overload of information in today’s market, CW brings its clients unparalleled recognition and brand awareness. CW is where breaking news, insightful content and actionable information converge.
For more information, please visit https://www.ChineseWire.com
Please see full terms of use and disclaimers on the ChineseWire website applicable to all content provided by CW, wherever published or re-published: https://www.ChineseWire.com/Disclaimer
ChineseWire
Los Angeles, CA
www.ChineseWire.com
310.299.1717 Office
Editor@ChineseWire.com
ChineseWire is powered by IBN
