Alibaba first invested in SingPost more than a decade ago in 2014. Back then, it paid $1.42 each for a stake of just over 10%.
Alibaba Group Holding has ceased to be a substantial shareholder of Singapore Post (SingPost) after an off-market transaction where the China ecommerce giant is cutting its investment at a loss.
According to a bourse filing, Alibaba sold 151.3 million shares in the postal company for $64.4 million or 42.6 cents apiece.
