Foxconn Ventures Sells $398.4m Worth Of Alibaba Stock

Alibaba

Photographer: Gilles Sabrie/Bloomberg

Foxconn Ventures Holdco has sold $398.4 million worth of Alibaba Group Holding Ltd‘s shares, in a block trade in the open market managed by Goldman Sachs Group Inc, people familiar with the matter said on Wednesday.

Foxconn sold 2.2 million Alibaba shares on Wednesday at $181.10 per share, the sources said, asking not to be identified ahead of any official announcement.

Foxconn and Goldman Sachs did not immediately respond to requests for comment.

Also read:

Taiwan’s Foxconn Technology to invest $25m in new US-based VC fund

Reuters

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