Altaba to start selling Alibaba ADSs on May 20

|About: Altaba, Inc. (AABA)|By:, SA News Editor

Altaba (NASDAQ:AABA), in connection with its previously announced plan of liquidation and dissolution, plans to start selling Alibaba Group American Depositary shares (OTCPK:BBAAY) on May 20, 2019.

The fund plans to sell the Alibaba shares through open market transactions and/or through private dispositions not executed or recorded on a public exchange or quotation service.

The fund previously said it intends to sell a minimum number of Alibaba shares to ensure that it has enough liquid assets that the board estimates it might need to cover maximum potential reserves that might be required to satisfy known, contingent, and potential future liabilities.

It won't sell more than half of its Alibaba shares before stockholder approval of the plan.

Previously: Altaba +2.8% as it OKs dissolution plan, estimates distributions (Apr. 02 2019)

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