Yunfeng Capital, a private equity firm co-founded by Jack Ma from Alibaba Group and 15 other investors, is cutting its shareholding in Chinese delivery giant YTO Express Group by selling about Rmb700 million ($103.3 million) in shares, according to a stock exchange filing.
The Shanghai-listed YTO Express Group said Yunfeng, the company’s third-largest shareholder, plans to trim its 5.96 per cent shareholding, which is about 169 million shares, to fulfil its own capital demand.
