Alibaba sold about 500 million US dollars of Zhongtong Express ADR through an unregistered bulk transaction on Monday, according to people familiar with the matter. People familiar with the matter, who did not wish to be named due to undisclosed information, said that the deal involved 25 million shares of Zhongtong Express ADR. The price is $20.02 per share, which is at the lower end of the promotion range of $20.02 to $20.22, a 4.5% discount from last Friday's closing price of $20.96. Zhongtong Express's ADR fell 7.2% on Monday to close at $19.45.

Alibaba sold about 500 million US dollars of Zhongtong Express ADR through an unregistered bulk transaction on Monday, according to people familiar with the matter. People familiar with the matter, who did not wish to be named due to undisclosed information, said that the deal involved 25 million shares of Zhongtong Express ADR. The price is $20.02 per share, which is at the lower end of the promotion range of $20.02 to $20.22, a 4.5% discount from last Friday's closing price of $20.96. Zhongtong Express's ADR fell 7.2% on Monday to close at $19.45.