Alibaba Sells 3.07% Stake In Zomato
Alipay a wholly-owned subsidiary of Alibaba sold 3.07 per cent of shares in Zomato, India's leading online food delivery platform
Alipay Singapore, an arm of Alibaba Group Holding, sold a 3.07 per cent stake in online food delivery giant Zomato for Rs 1,631 crore via an open market transaction.
According to the reports Alipay Singapore Holding Pte offloaded around 26,28,73,507 shares, aggregating to a 3.07 per cent stake in the firm. Shares of Alibaba were offloaded at an average price of ₹62.06 apiece, taking the transaction value to ₹1,631.39 crores.
On Wednesday, Camas Investments Pte, a subsidiary of Singaporean sovereign wealth fund Temasek acquired 9.80 crore shares of the firm. As of the quarter ended September, Alibaba through its affiliates – Antfin Singapore Holding and Alipay Singapore Holding – owned about 13 per cent stake in the company, data with the bourse showed.
