Share Market News: This Chinese E-Commerce Firm Sold Its Entire Stake in Zomato
Share Market News: In the past five days, Zomato's share prices have risen by over 2.5 percent. As a result, in just one month, the stock has increased by over 13 percent. However, Zomato’s share price has increased by more than 73% over the previous six months and more than 76% over the previous year. In a recent significant development, an investor in Zomato is said to have sold its entire stake for crores.
Alibaba’s Division Sells Entire Stake in Zomato
Alipay Singapore Holding, a subsidiary of Chinese e-commerce giant Alibaba, sold its entire 3.44 percent stake in online platform Zomato in an open market transaction for Rs 3,337 crore. Alipay Singapore Holding Pvt sold over 29.60 crore shares of Zomato in 31 tranches on the BSE. According to the information, Alipay Singapore Holding Pvt sold a total of 29,60,73,993 shares, equivalent to a 3.44 percent stake in Zomato. This sale was completed at an average price of Rs 112.7, for a total transaction value of Rs 3,336.75 crore.
