After lots of speculations and predictions, the founder of Alibaba Group Holding Ltd. Jack Ma decided not to sell the shares of his company. But why? Earlier it was predicted how many shares of Alibaba would be released by founder Jack Ma but now the billionaire founder of the company has halted his plans to sell shares. According to the reports, Jack Ma stepped backward on his plan to sell shares of Alibaba because of tumbling stock prices which fell below his expectations. What would happen if Jack Ma successfully sold shares of Alibaba? In the following sections of this article, we have discussed this topic in detail. You should go through the article till the end. Drag down the page for more.
Jack Ma put off his plan to sell the shares in the company, which are millions of dollars worth after the stock of the company plummeted recently. Last week, the leading e-commerce Chinese company Alibaba’s stock tumbled in the market prompting Jack Ma to postpone his plans to sell shares. As of now, the founder of Alibaba Group Holding Ltd has not sold a single share of the company since the stock price of the company fell below his expectations. Shift to the next section and read more details.
Two regulatory filings last week claimed that Jack Ma was thinking of selling 10 million shares from which he would gain $871 million approximately. But the share prices of Alibaba fell below his expectations therefore he has not offloaded a single share in the company. Alibaba Chief People Officer Jane Jiang Fang on the company’s internal forum said the company’s shares have dropped more than 10 percent so far this year. Continue reading this article for more details.
Jane Jiang Fang said, “Ma’s office has issued a statement saying that Ma will continue to hold onto his Alibaba stake. This is a fact and not mere lip service. “Alibaba’s current price is significantly lower than its real value so he will not sell.” The billionaire believes that the value of Alibaba’s businesses will increase.” She further said that Jack’s family office needed funds to invest in charities and agricultural enterprises in China and elsewhere, and made arrangements with a broker for a share sale at a price set earlier this year in August. Stay tuned to this website for more details and further updates.