© Reuters. FILE PHOTO: The Goldman Sachs company logo resides in the corporate area on the floor of the NYSE in New York
(Reuters) – Goldman Sachs Group Inc (NYSE 🙂 liquidated $ 10.5 billion worth of shares in a spree that took $ 35 billion off the stocks of large companies, Bloomberg News reported on Saturday.
The bank sold shares of Baidu Inc (NASDAQ 🙂 valued at $ 6.6 billion. Tencent Music Entertainment Group (NYSE 🙂 and Vipshop (NYSE 🙂 Holdings Ltd, before opening the US market on Friday, the report said, citing an email to customers seen by Bloomberg News. https://bloom.bg/3lYOrZm
Goldman then reportedly sold shares in ViacomCBS (NASDAQ 🙂 Inc, Discovery (NASDAQ 🙂 Inc, Farfetch (NYSE 🙂 Ltd, iQIYI Inc, and GSX Techedu (NYSE 🙂 Inc valued at $ 3.9 billion.
Goldman Sachs did not immediately respond to a Reuters request for comment.
Most of the unregistered stock offerings were administered by Morgan Stanley (NYSE :), on behalf of one or more unnamed shareholders, the report added, citing people familiar with the matter.
Calculations based on Bloomberg data showed that some deals in individual companies exceeded $ 1 billion, the report said.
ViacomCBS and Discovery fell 27% each on Friday, while US-listed Baidu and Tencent Music, based in China, fell 33.5% and 48.5, respectively, from Tuesday's closing price % fell.
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