Wall Street analysts expect Chinese tax authorities to decide not to impose any capital-gains taxes on all of Altabas sales of Alibaba stock. Enterprising Investor. 2021. The 35.5% stake in Yahoo! In addition, stockholders may obtain free copies of the documents filed Prior to June 16, 2017, Altaba was known as Yahoo! stockholders of additional strategies potentially available to the Fund The amount and timing of future distributions will reflect decisions by the Delaware court overseeing the liquidation. I have invested in liquidations for well over 35 years. Altaba and the IRS have agreed that Altaba would hold back about $1.7 billion for potential tax liability subject to agreed upon mechanisms for the release of this security as portions of the IRS claims are resolved over time, according to the annual report. It offers a range of services including funds, account management, retirement plans, and advisory services for individuals, corporations, and other institutions. Inc. reorganized as an investment company, was renamed Altaba Inc., and began trading under the Nasdaq ticker symbol AABA. 2019 will be entitled to receive notice of, and to vote at, the special Inc. reorganized as an investment company, was renamed Altaba Inc., and began trading under the Nasdaq ticker symbol AABA. Its stake used to be larger, and there are rumors that it may sell even more in the near future. Inc. reorganized as an investment company, was renamed Altaba Inc., and began trading under the Nasdaq ticker symbol AABA. As part of its review, the IRS has proposed an additional tax liability of about $100 million, which Altaba disputes, according to the annual report. Then in July 2020, the company is said to have sold an additional $2.2 billion of its stake in Alibaba. Inc. has agreed to pay a $35 million penalty to settle charges that it misled investors by failing to disclose one of the world's largest data breaches in which hackers stole personal data relating to hundreds of millions of user accounts. I expect them to trade in the "grey market". The forward-looking The certificate of dissolution, which became effective at 4:00 p.m. Eastern Time on October 4, 2019, provides for the dissolution of the Fund under the General Corporation Law of the State of Delaware. "Amazon (AMZN) vs Alibaba (BABA).". https://www.altaba.com/news-releases/news-release-details/altaba-announces-liquidating-distribution-075-share, NAV $6.42 (3/31/22) https://www.altaba.com/static-files/11f195cd-ab9f-44ac-b0e3-d2a02802681d, Altaba Announces Liquidating Distribution of $0.24 Per Share (3/07/22) NEW YORK--(BUSINESS WIRE)--Altaba Inc. (Altaba or the Fund) today announced that on Monday, March 7, 2022, the Board of Directors of the Fund (the Board) approved a liquidating distribution of $0.24 per share of the Funds common stock, par value $0.001 per share, or $124,682,727 in the aggregate (the Liquidating Distribution), which will be payable on March 15, 2022. Regardless, Altaba is still worth less than the sum of its parts. The Funds assets primarily consist of a mix of cash and cash equivalents. CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION. Whats the way to trade I have some yahoo converted in to aaba, Altaba Sets Date for Filing Certificate of Dissolution (9/23/19) Altaba Inc. (Altaba or the Fund) (NASDAQ: AABA) today announced that, in furtherance of the liquidation and dissolution of the Fund pursuant to its Plan of Complete Liquidation and Dissolution (the Plan), the Fund intends to file a certificate of dissolution with the Secretary of State of the State of Delaware immediately following the close of regular trading on the Nasdaq Global Select Market on October 4, 2019. There are about 519.5 million shares outstanding. You can learn more about the standards we follow in producing accurate, unbiased content in our. Forward-looking statements are subject to numerous risks and uncertainties and actual results may differ materially from those statements. Altaba P.O. Announces NYSE Election to Commence Delisting Proceedings May 16, 2023 Press Releases Audacy Reports First Quarter Results May 10, 2023 SEE MORE offer to sell shares of the Fund. uncertainties and actual results may differ materially from those As previously announced, at a special meeting of stockholders held on June 27, 2019, stockholders of the Fund approved a Plan of Complete Liquidation and Dissolution (the Plan), pursuant to which the Fund filed a certificate of dissolution with the Secretary of State of the State of Delaware and dissolved on October 4, 2019. Annual Report on Form N-CSR for the fiscal year ended December 31, 2018, Sure things rarely are. Prior to June 16, 2017, Altaba was known as Yahoo! SoftBanks Alibaba stake is now worth nearly $57 billion. Following Verizon's acquisition of core Yahoo! It is expected that the shares will continue to trade over-the-counter on the Pink Sheets thereafter. Forward-looking statements are subject to numerous risks and Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. Please do not consider this a recommendation. Hi EI!! What Investors Need to Know About Altaba, a.k.a. What's Left of Yahoo Prior to June 16, 2017, Altaba was known as Yahoo! periodic reports and documents filed with the SEC. The Funds assets primarily consist of a mix of cash and cash equivalents. Nasdaq has advised the Fund that trading in the Shares will be indefinitely suspended prior to the opening of trading on the NASDAQ Global Select Market on October 7, 2019, and that Nasdaq will thereafter file with the Securities and Exchange Commission (the SEC) a Notice of Removal from Listing and/or Registration on Form 25 to cause the Shares to be delisted. Alibaba is Altaba's biggest investment. View source version on businesswire.com: https://www.businesswire.com/news/home/20190513005347/en/, Investor Relations and Media:Abernathy MacGregorAlan Oshiki212-371-5999altaba@abmac.com, Altaba Announces Meeting Date and Record Date for Special Meeting, https://www.businesswire.com/news/home/20190513005347/en/. Altaba Inc., and began trading under the Nasdaq ticker symbol AABA. Reports available in electronic or paper copy only upon request: While these payments were made in April 2021, the NAV per share reported at March 31, 2021 reflects the impact of the CA Agreements. View All News. Invest better with The Motley Fool. In 2020, Ma reduced his stake in Alibaba from 6.2% to 4.8%. date hereof, except as required by law. He is known as a specialist in distressed debt. This should explain why the price continues to creep up. The Funds assets primarily consist of a mix of cash and cash equivalents. To the extent that a stockholders Shares were not held by a DTC participant as of 4:00 p.m. Eastern Time on October 4, 2019, it could be more difficult for such stockholder to transfer such stockholders rights to receive any post-dissolution liquidating distributions. After our Shares are delisted from Nasdaq, brokers may make a market for interests in the Shares representing the right to receive any post-dissolution liquidating distributions, in the over-the-counter market. Altaba trades at a small discount to its NAV to account for uncertainty about the timing and size of future payments to shareholders and the risk that it may have to pay out sizable claims to creditors. It is what I plan to do. I have this feeling that as soon as they make the pay out, after hours, they will de-list as soon as the market closes and our shares will be worthless the next trading day. The Liquidating Distribution represents a partial distribution of the remaining assets of the Fund. In determining the aggregate amount to be distributed in the Liquidating Distribution, the Board also took into consideration other contingencies affecting the Fund to determine the amount of funds to authorize for distribution, including, among other things, the receipt of state income tax refunds received of approximately $82 million and release of certain supplemental reserves totaling $238 million that the Fund determined were not needed. Prior to June 16, 2017, Altaba was known as "Yahoo! I like to add some shares with my IRA account but don't want to risk my repairmen lol. THE FUND WILL FILE WITH THE SEC WHEN THEY BECOME AVAILABLE BECAUSE THEY The company is likened to Amazon, eBay, PayPal, and Google all rolled into one. The Fund will, however, request that, following the Effective Time, The Depository Trust Company (DTC) maintain records representing the right to receive any post-dissolution liquidating distributions, including any transfers of such rights. pursuant to the Plan, when it becomes available. statements. Sounds risky as all get out. What Is Altaba Inc. Up To? | Nasdaq SoftBank's stake in Alibaba is equivalent to approximately 24% of the company; it is Alibaba's largest shareholder. Consequently, the Fund expects that any transfers of such rights will be tracked by DTC. When you visit the site, Dotdash Meredith and its partners may store or retrieve information on your browser, mostly in the form of cookies. The Fund's assets primarily consist of a mix of cash and cash equivalents.. other factors that could cause actual results to differ from the results the special meeting to approve the liquidation and dissolution of the the application of, and any changes in, applicable tax laws, Upon the filing of the certificate of dissolution, the Fund will close its stock transfer books, after which record holders of the Funds common stock, par value $0.001 per share (the Shares), will be prohibited from transferring record ownership of their Shares, except by will, intestate succession or operation of law. proxies in the event that there are insufficient votes at the time of Altaba Announces Liquidating Distribution of $0.96 Per Share (2/09/23) NEW YORK--(BUSINESS WIRE)--Altaba Inc. (Altaba or the Fund) today announced that the Board approved a liquidating distribution of $0.96 per share of the Funds common stock, par value $0.001 per share, or $498,730,911 in the aggregate (the Liquidating Distribution), which will be payable on February 17, 2023. June 20, 2023. BATX stocks refer to the stocks of four of the Chinese technology giants: Baidu, Alibaba, Tencent, and Xiaomi. July 21, 2023. Inc. after the sale of its operating businesses, at which time Yahoo! The company's IPO in New York set a record as the world's biggest public stock offering. Alibaba (BABA), the global leader by volume in the e-commerce sector, issued a record-shattering $25 billion IPO in September 2014. its special meeting of stockholders in connection with the proposed The bulk of the companys assets now sit in cash and cash equivalents. the risks, timing, viability and potential impact on the Funds Altaba declined to comment on the sale. https://www.altaba.com/news-releases/news-release-details/altaba-announces-liquidating-distribution-067-share, Altaba Announces Liquidating Distribution of $0.54 Per Share (8/20/21) NEW YORK--(BUSINESS WIRE)--Altaba Inc. (Altaba or the Fund) today announced that on August 19, 2021 the Board of Directors (the Board) of the Fund approved a liquidating distribution of $0.54 per share of the Funds common stock, par value $0.001 per share, or $280,536,137.64 in the aggregate (the Liquidating Distribution), which will be payable on September 1, 2021. Closing price 9/23/19: $70.80 Adjusted for dividend: $19.30. On July 19, 2022, the Ninth Circuit issued a mandate to close the U.S. Class Action and the U.S. Class Action Holdback was no longer required to be maintained. It would trading around $18.70 if this happened tomorrow. Investors will get $7.48 a share in cash next month as the liquidation continues. In addition, the Fund expects that trading in the Shares on the Nasdaq Global Select Market will be halted promptly following the filing of the certificate of dissolution and indefinitely suspended prior to the opening of trading on October 7, 2019, and that the Shares will thereafter be delisted. Alibaba Group Announces Chairman and CEO Succession Plan. Altaba Inc. (Altaba or the Fund) (NASDAQ:AABA) today announced that McInerny's top task will be to reduce the that tax liability through strategic divestments of its holdings. Alibaba Investor Relations - Alibaba Group The Chancery Court entered the Interim Order with some modifications on October 19, 2020. Prior to June 16, 2017, Altaba was known as Yahoo! One of the biggest question marks is potential Chinese capital-gains taxes on Altabas sales of what had been its largest asset, a 15% stake in Alibaba Group Holding ? How AI Energized Cadence Design Systems' Latest Earnings. The current over-the-counter market in Altaba is dominated by institutions. Investopedia requires writers to use primary sources to support their work. As previously announced, at a special meeting of stockholders held on June 27, 2019, stockholders of the Fund approved a Plan of Complete Liquidation and Dissolution (the Plan), pursuant to which, the Fund filed a certificate of dissolution with the Secretary of State of the State of Delaware to dissolve the Fund on October 4, 2019. In addition, there were certain other refunds and reimbursements received that are available for distribution. Announces 1-for-30 Reverse Stock Split June 30, 2023 Investor Relations Releases Audacy, Inc. About Altaba Altaba is an independent, publicly traded, non-diversified, closed-end management investment company registered under the Investment Company Act of 1940. Additional information regarding the Plan and the liquidation and dissolution process can be found in the proxy statement filed with the U.S. Securities and Exchange Commission (the SEC) on May 17, 2019 (as supplemented, the Proxy Statement). A paper copy is only available by request for Semi-Annual and Annual Reports. Further information regarding the amount and timing of any subsequent liquidating distributions to stockholders will be provided in subsequent press releases or filings with the SEC as such information becomes available. On June 18, 2020, the United States Department of Justice (the DOJ), on behalf of the United States Internal Revenue Service (the IRS), filed a Notice of Removal in the Chancery Court removing claims of the IRS in the Chancery Action to the United States District Court for the District of Delaware (the District of Delaware). This document contains forward-looking statements concerning the Joseph Tsai, Mas co-founder at Alibaba, is the second-largest shareholder behind SoftBank. He is also an Adjunct Senior Research Scholar at the Center on Global Energy Policy at Columbia University. Everything is great when you invest $1 billion in a company valued at $2.5 billion, and the company proceeds to grow more than 100-fold over the next decade. Pfizer's TALZENNA in Combination with XTANDI Receives U.S. FDA Approval. the availability, timing and amount of liquidating distributions, ", eMarketer. Prior to June 16, 2017, Altaba was known as Yahoo! by Section27A of the Securities Act of 1933, as amended, and Inc. Altaba was created from Yahoo! About Altaba Altaba is an independent, non-diversified, closed-end management investment company registered under the 1940 Act. https://www.barrons.com/articles/altaba-begins-sale-of-remaining-alibaba-stake-51579020598, Altaba Files Certificate of Dissolution (10/04/19) NEW YORK--(BUSINESS WIRE)--Altaba Inc. (Altaba or the Fund) (NASDAQ: AABA) today announced that it filed a certificate of dissolution with the Secretary of State of the State of Delaware, as contemplated by the Plan of Complete Liquidation and Dissolution (the Plan) previously approved by the Funds Board of Directors and stockholders.