Alibaba Group raising stake in SingPost

Dec 19, 2016Updated May 26, 20251 min read

Chinese eCommerce giant Alibaba Group has been given the go-ahead by Singapore’s stock exchange (SGX) to raise its stake in Singapore Post (SingPost).

Alibaba Investment, a subsidiary of Alibaba Group Holding, has received in-principle approval from the bourse for the listing and quotation of about 107.6 million new shares in SingPost, says the postal group said in a filing.

This is subject to compliance with SGX listing requirements, and SingPost shareholder approval.
Shareholders will be sent a circular with details of the proposed share issuance, and notice of a related extraordinary general meeting.

The deal aims to be completed by the end of February.

As Alibaba’s second SingPost investment, it will raise its stake from 10.2 to 14.4 per cent.

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Mei Ling Tan

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Mei Ling Tan is the Editor of Retail News Asia, where she leads the editorial team in delivering in-depth coverage of Asia’s dynamic retail landscape. With over a decade of experience in business journalism, Mei Ling is known for her sharp analysis, deep industry insights, and commitment to uncovering the stories behind Asia’s most innovative retail brands. Before joining Retail News Asia, Mei Ling held senior reporting roles at regional business publications, covering everything from consumer trends to digital transformation in retail. A graduate of the National University of Singapore with a degree in Communications and New Media, she combines journalistic integrity with a strong understanding of evolving market forces. Outside the newsroom, Mei Ling is a frequent speaker at industry panels and a mentor for young journalists.

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