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【Japan Himalaya League】 Author: Hai Xing Translator: Lila

On November 9th , Company No.9 issued an announcement stating that Sequoia Capital sold 6.3 million copies of the company’s depositary receipts, with a cash amount of nearly 360 million yuan.

According to a report by “Sina Technology”, No. 9 Company, which focuses on the field of intelligent short-term transportation and service robots, stated in an announcement issued in the evening of the 9th that the number of transfers of depositary receipts in this inquiry totaled 17.6 million, accounting for the company’s depository. The proportion of the total number of vouchers is 2.5%, the price is 57 yuan per copy of depository receipt, and the transaction amount is 1.003 billion yuan. The actual controller is Shen Nanpeng’s Sequoia Capital Transfer most of his depository receipts, the number is 6.3 million, accounting for 0.89% of the company’s total depository receipts, accounting for 5.92% of the depositary receipts held, the amount is nearly 360 million yuan.

Picture Source: https://news.stcn.com/sd/202111/W020211110269838293997.png

Some analysts said that Sequoia Capital began to sell assets after the CCP implemented the anti-monopoly law. Especially after Meituan was fined US$530 million by the CCP for violating the antitrust law, Sequoia Capital immediately sold off frequently in September and October. It not only sold US$155 million of Meituan’s stock, but also sold under JD.com. The delivery platform reaches up to 30 million U.S. dollars in stocks and nearly 30 million U.S. dollars worth of Pinduoduo stocks.

References:
1. https://finance.sina.com.cn/tech/2021-11-10/doc-iktzscyy4771355.shtml
2. https://ec.ltn.com.tw/article/breakingnews/3729697


Edit & post by: Ranting

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