News

It was announced that Alibaba, owned by Chinese billionaire Jack Ma, and Johnny Chou, founder, and CEO of Best, could decide to sell 33% and 11% of their shares in the company, respectively.

Best, whose shares are listed on the New York stock exchange, is trading at one-fifth of its IPO price in 2018, as well as underperforming its peers.

Two of the six sources that provided information to Reuters on the matter stated that the company's main shareholder, Alibaba, gave instructions to consultants to investigate sales options.

According to five sources, Alibaba, owned by Chinese billionaire Jack Ma, and Johnny Chou, founder, and CEO of Best, may decide to sell 33% and 11% of their shares in the company, respectively.

However, the sources stated that the strategic review has not yet been completed, it is unclear which option Alibaba will decide on, and that official transactions regarding Best's sale have not started. Two of the sources stated that they were asked about their opinions on sales.

Best's spokesperson denied that the company was considering the sale of the stock. The spokesman said Chou believes in the company's "bright future and long-term value" and does not intend to sell his stake in the company. The spokesperson did not answer the question of whether the company was conducting a strategic review. Alibaba stated that the information was incorrect, but did not provide any details.

Best has a market value of $ 790 million.

On the other hand, Jack Ma, the founder of Alibaba, who has not been seen in the public for about three months and has questions about his whereabouts, was seen for the first time today at an online event.