On March 22, there were market reports that Alibaba will sell Bilibili Inc. ADRs (Advance-Decline Ratio), with an expected pricing of $11.60 per ADR, potentially realizing $357.8 million. In response to this, Alibaba stated: “This sale is mainly based on Alibaba‘s own capital management goals and will not affect the cooperation between both parties in business aspects. Relevant businesses under Alibaba will continue to strengthen cooperation with Bilibili in various fields.”
Chairman of the Board of Alibaba Group Holding Limited, Joseph Tsai, once stated in an earnings call that Alibaba‘s progress in selling non-core assets is smooth. As of the end of December last year, during the first 9 months of the fiscal year, Alibaba Group has completed divesting $1.7 billion worth of non-core assets and is actively studying how to withdraw from some listed companies.
In 2023, Alibaba successively reduced its holdings of Beijing Enlight Media, SenseTime Technology, H.Brothers, and XPeng Motors.
SEE ALSO: Alibaba Plans to Reduce Its Stake in XPeng Motors, Worth about $3.14 Billion
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