Alibaba Shares Fell Below $80, The Largest Shareholder Of The Group, For The First Time In 16 Years.

Ali was the first largest shareholder in 16 years selling shares fell below 80 U.S. dollars

SoftBank, the biggest shareholder of the group, issued a statement on the official website in June 1st that the company plans to sell about $8 billion in Alibaba's shares in order to repay its debt.

This will be the first time since Softbank invested in Alibaba 16 years ago, it has sold the stock of the Chinese e-commerce giant for the first time.

Affected by the news, Ali's shares fell sharply, or more than 2%, or below 80 U.S. dollars.

At the same time, Alibaba group announced that it agreed to buy its Alibaba stock worth 2 billion US dollars from Softbank group, and the funds needed will be paid by Alibaba.

Alibaba partners, composed of Alibaba founders and executives, agreed to subscribe another $400 million Alibaba from Softbank group.

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Another $500 million of Alibaba shares will be sold to a government investment fund, but Softbank did not disclose the name of the fund.

At the end of the close, Ali shares rose 1.27% and the stock price was $82.

As of March 31, 2016, Softbank owns 32% of Alibaba's total circulation shares.

After the deal is completed, Softbank group's Alibaba shares will fall to 28%.

Even if these Alibaba shares are sold, Softbank will remain one of Alibaba's largest shareholders.

It is understood that in 2000 and 2004, Softbank shares Alibaba in 20 million and 60 million dollars respectively.

In the past 15 years, Ali has never sold a Alibaba stock.

Alibaba today's market value calculation, Softbank Group Chairman and CEO Sun Zhengyi profits nearly 1000 times.

Previously, according to Bloomberg

The compilation shows that Softbank now has a total debt of 12 trillion and 300 billion yen (US $108 billion 200 million) under the influence of SprintCorp, a US mobile operator.