SingPost shareholders greenlight share placement to Alibaba

Singapore

SHAREHOLDERS of Singapore Post gave the nod to a S$187.1 million share placement to Chinese e-commerce giant Alibaba at an extraordinary general meeting (EGM) on Thursday, in proceedings that were far shorter and calmer than last year's annual general meeting (AGM).

The EGM, held in a large auditorium at Suntec convention centre, still drew nearly the same number of attendees as the AGM, but lasted only about 40 minutes.