Alibaba Unit to Sell 33 Million XPeng ADRs Worth $314 Million-February 2024-www.financetom.com

Alibaba Unit to Sell 33 Million XPeng ADRs Worth $314 Million

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Alibaba Unit to Sell 33 Million XPeng ADRs Worth $314 Million

Mar 20, 2024 10:04 AM

12:42 PM EDT, 03/20/2024 (MT Newswires) -- Alibaba Group Holding's ( BABA ) Taobao China Holding unit intends to sell 33 million of XPeng's American Depositary Receipts with a market value of about $314 million on Wednesday, a Securities and Exchange Commission filing showed.

Each ADR represents two class A ordinary shares of XPeng.

XPeng's ADRs were down more than 4% in recent trading.

Price: 73.54, Change: +0.12, Percent Change: +0.16

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