By Josh Beckerman
Yahoo Inc. filed a registration statement detailing its
previously announced plan to spin off its shares of Alibaba Group
Holding Ltd.
The name selected for the new public company is Aabaco Holdings
Inc., Yahoo said.
After the spinoff, Aabaco will own about 384 million Alibaba
shares, representing about a 15% stake in the Chinese
electric-commerce giant, and a 100% stake in a new entity that will
own Yahoo Small Business.
Aabaco will operate as a closed-end fund. Its investment
objective "is to seek returns for its stockholders primarily
through owning the Alibaba shares," the filing said.
The fund plans to invest at least 80% of its total assets in
Alibaba shares under normal market conditions.
Write to Josh Beckerman at josh.beckerman@wsj.com
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