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Alibaba Group Holding Ltd: Trading Restriction On 1.6B Shares Ends

Exactly a year ago, Alibaba went public in the world's largest public offering, raising $25 billion. And now a lock of 63% of the company's total shares has expired. Most of Alibaba's largest shareholders including Yahoo! Inc. (NASDAQ:YHOO) and Softbank Corp (OTCMKTS:SFTBF) (TYO:9984) can sell their shares starting Monday. The amount of stock freed up on Monday (1.6 billion) is five times higher than total shares sold in its public offering. Alibaba had sold 320 million shares in its IPO.

SoftBank has no plans to cash in

SoftBank chairman Masayoshi Son said in May that the Japanese conglomerate had no plans to sell its 798 million shares. Alibaba founder Jack Ma and Vice Chairman Joseph Tsai have pledged not to sell their stocks. The...