Shares in New York-listed Best Inc rose as much as 15% on Wednesday after Reuters exclusively reported that the Chinese logistics firm, backed by e-commerce giant Alibaba Group Holding Ltd, is considering a sale as part of a strategic review. Billionaire Jack Ma’s Alibaba, which owns 33% of the firm, as well as Best founder and CEO Johnny Chou, who has a 11% stake on a fully diluted basis, could both end up selling their stakes, Reuters reported.
Business & FinanceDeals
Reuters reveals Alibaba-backed logistics firm Best weighing sale in strategic review; market reacts
20 January 2021, 3:49 pm 1 minute
Market Impact
Shares of Best Inc rose as much as 15% after the Reuters report was published.
Article Tags
Topics of Interest: Business & FinanceDeals
Type: Reuters Best
Sectors: Equities
Regions: Asia
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Important Regional Story