Alibaba reports gain of 6 billion yuan from selling Trendyol GO equity interest

Alibaba's (9988) agreement in May to sell 85 percent of the equity interest in Trendyol GO, a wholly-owned subsidiary of Trendyol that operates local service business in Turkey, for US$700 million (HK$5.46 billion), generates a gain of 6 billion yuan (HK$6.65 billion), the e-commerce giant disclosed in a filing.

The gain was recorded in interest and investment income, net in the unaudited condensed consolidated income statements for the six months ended September 30. 

It was also revealed that Alibaba’s equity interest in Ant Group on a fully diluted basis was 33 percent as of September. During the six months ended September, dividend received from Ant Group amounted to 3.29 billion yuan.