Focus on Yahoo stake as lockup of US$105b of Alibaba shares ends
But its poor performance and US$128.5b market slump may prompt investors to hold on to the shares
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Hong Kong
ALIBABA Group Holding set a record with the size of its initial public offering. Now five times that amount of stock just became available, and all eyes are on Yahoo! Inc.
The lockup on 63 per cent of Alibaba shares ended on Saturday, freeing up the biggest shareholders to sell stock starting from Monday. With Yahoo still working out what to do with its 15 per cent stake, investors battered by the e-commerce company's US$128.5 billion market slump are bracing for the worst, such as the possibility of more shares hitting the market and driving prices down further.
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