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Alibaba’s (NYSE:BABA) Taobao China completed the sale of 25M American depositary shares of XPeng (NYSE:XPEV), according to a regulatory filing on Tuesday.
The e-commerce giant sold 25M ADSs, representing 50M class A ordinary shares, of the Chinese electric vehicles’ maker at $14.18 per ADS.
The market value of the securities was worth about $391M, as per an earlier filing.
Alibaba still holds a stake in XPeng. Alibaba (BABA) had picked up the stake as part of Pre-IPO Investment in XPeng in 2019. XPeng listed on the NYSE in August 2020 and in Hong Kong in July 2021.