SoftBank is selling its crown jewels to ride out ‘severe market' [CNN]
Alibaba Group Holding Limited American Depositary Shares each representing eight Ordinary share (BABA)
Last alibaba group holding limited american depositary shares each representing eight ordinary share earnings: 2/13 06:45 am
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Source: CNN
its investment portfolio , after posting record losses on its tech bets this year. The Japanese company said Wednesday that it would reduce its stake in the Chinese e-commerce giant to 14.6% from 23.7% by settling some derivatives contracts early. It comes just two days after SoftBank dumped its shares in Uber (UBER) The estimated total gain from the Alibaba transaction amounts to 4.6 trillion Japanese yen ($34.1 billion), including 2.4 trillion Japanese yen ($17.8 billion) from a revaluation of the stock, according to SoftBank's filing. “The current equity market environment is challenging and may be prolonged,” SoftBank (SFTBF) said in the filing, adding that the settlement of the forward contracts in Alibaba shares is the best option for the company at the moment. “By settling these contracts early, SoftBank will be able to eliminate concerns about future cash outflows, and furthermore, reduce costs associated with these prepaid forward contracts. These will further strengt
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BABA
Earnings
- 2/7/24 - Beat
BABA
Sec Filings
- 4/2/24 - Form 6-K
- 3/26/24 - Form 6-K
- 2/23/24 - Form 20-F/A
- BABA's page on the SEC website