Yahoo sells $147 million of stock in

Yahoo sells shares it bought in the IPO slightly ahead of a lockup expiry, realising a profit of just over 46%.

Yahoo last night raised $147 million from the sale of a block of shares in Hong Kong-listed Surprisingly, the deal came only four trading days after the company's founding chairman, Jack Ma, sold about $35 million worth of stock, causing a slide in the share price that it has yet to recover from in full.

And given that Yahoo is deemed to be a controlling shareholder in the company by virtue of its large shareholding in parent company Alibaba...

FinanceAsia has updated its subscription model. Registered readers now have the opportunity to read five articles from our award-winning website for free. Please subscribe for unlimited access.

Print Edition

FinanceAsia Print Edition