Regarding the recent rumors of Jack Ma selling a large amount of Alibaba Group stocks, Jiang Fang, a partner and Chief Talent Officer at Alibaba Group, posted on the company’s internal network today stating that “Jack Ma did not sell a single share.”
Jiang Fang wrote a detailed explanation regarding this matter, “In order to raise funds for agricultural technology and public welfare projects both domestically and internationally, Jack Ma’s office signed a reduction contract earlier this year with stock brokers in accordance with the provisions of the US SEC 10b5-1. According to regulations, this conditional future reduction plan will be announced to the public in mid-November. The selling price set in August was much higher than the current stock price, so Jack Ma did not sell a single share.”
Alibaba Group’s Chairman Cai Chongxin also commented, “As long as we maintain an open mind and innovative thinking, we have the opportunity to create another unique Alibaba.”
Stocks in the Hong Kong market rose 1.12% on Wednesday.
