Temasek pares Alibaba stake during share price's rally in Q4

Singapore

TEMASEK Holdings Pte Ltd cut its stake in Alibaba Group Holding Ltd in the fourth quarter as the biggest Chinese e-commerce company's shares rallied.

The Singapore investment firm sold 548,769 American depositary receipts (ADRs) in Alibaba, leaving it with 47.5 million, according to a filing with the US Securities and Exchange Commission (SEC) on Tuesday. The value of the holding increased by US$1.03 billion as the shares gained 38 per cent in the period.