Shulou(Shulou.com)11/24 Report--

Thank you, Mr. Air, a netizen of CTOnews.com, for your clue delivery! CTOnews.com, February 12 (Xinhua)-- Alibaba Group sold the remaining shares of Paytm, an Indian digital payment company, for about 13.78 billion Indian rupees ($167.14 million) through block trading on February 10, local time, Reuters reported.

Specifically, Alibaba Singapore ecommerce sold 21.4 million Paytm shares at 642.74 rupees a share on Friday, a 9 per cent discount to Thursday's closing price. Paytm shares fell nearly 8 per cent on Friday to close at 650.55 rupees on the news, but are still up nearly 23 per cent so far this year.

In addition, Morgan Stanley Asia (Singapore) Pte Ltd bought 5.42 million Paytm shares at 640 rupees on Friday. It is not clear why Alibaba sold his stake. Paytm and Alibaba didn't immediately respond to requests for comment.

In January, Alibaba sold a 3.1 per cent stake in Paytm through a $125 million (currently about 851 million yuan) block deal. CTOnews.com learned that before that, Alibaba had a 6.26% stake in Paytm.

At the same time, Paytm is also supported by Ant Group and Softbank Corp. Group. Paytm has been under pressure to make a profit since it went public in November 2021. Since going public, the stock has fallen about 70%. The stock plummeted 60% in 2022.

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