End is nigh for lockup of about 340 million shares in Alibaba

340 million shares in Alibaba Group Holdings (BABA.NYSE) valued at about US$29 billion will be freed on Wednesday from lockup at big institutional investors that bought stakes in the firm before it went public in September, The Wall Street Journal reported. The listing raised US$25 billion, the highest on record, Many IPO stocks fall ahead of the end of such lockups, but Alibaba shares were down only slightly in recent weeks, down roughly 30% from a post-offering peak of US$120 per share in November. A group of Alibaba employees holding an additional 100 million shares will be able to sell in May.