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Ma Yun Cai Chongxin sells Ali stock: worth about 37 billion

March 15, 2019 06:16
source: Lei Di touches the net

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Summary
[Ma Yun Cai Chongxin sells Ali stock: worth about 37 billion. It is said to be used for charity.] Alibaba Chairman Ma Yun and Alibaba Board Vice Chairman Cai Chongxin's related entities and charitable foundations signed a share sale plan today. Since April of this year, according to the pre-determined terms, Ma Yun will sell up to 21.4 million shares within 12 months. By the end of this year, Cai Chongxin will sell up to 9.2 million shares for charitable commitments and general wealth. planning. (Leidi touches the net)

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Ma Yun, Chairman of Alibaba Board of Directors, and Associated Entity and Charity of Cai Chongxin, Vice Chairman of Alibaba Board of DirectorsfundWill sign a share sale plan today.

Since April of this year, according to the pre-determined terms, Ma Yun will sell up to 21.4 million shares within 12 months. By the end of this year, Cai Chongxin will sell up to 9.2 million shares for charitable commitments and general wealth. planning.

Before the listing of Alibaba in 2014, Ma Yun and Cai Chongxin jointly announced that they would set up a personal charitable trust fund with an option equivalent to 2% of Alibaba's total share capital in Alibaba Group.

The move is mainly devoted to four major areas of environmental protection, medical health, education development, and public welfare. Based on the current market value of Alibaba, this investment will exceed 60 billion yuan.

This time, Ma Yun and Cai Chongxin reduced their holdings by 30.6 million shares, with A's current share price of 180 US dollars, with a total value of 5.5 billion US dollars (about 37 billion yuan). This is also the beginning of Ali's listing, Ma Yun Cai Chongxin re-sold the company's equity.

According to SEC documents, as of June 18, 2018, Ma Yun holds a 6.4% stake in Ali and Cai Chongxin holds a 2.3% stake.

Ali MaxshareholderStill Softbank, holding 28.8%, the second largest shareholder is Altaba, holding 14.8%.

According to the plan, by September 10, 2019, Ma Yun will no longer serve as the chairman of Alibaba's board of directors, and will be replaced by the current group CEO Zhang Yong.

Ma Yun once said that this successor plan has been carefully prepared for 10 years. Only by establishing a system, forming a unique culture, cultivating and training a successor system of a large number of talents can solve the problem of enterprise inheritance and development.

(Article source: Lei Di touches the net)

                (Editor: DF155)

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