March 27 (Reuters) – Goldman Sachs Group Inc liquidated $ 10.5 billion in block stock as part of a wave of sales that erased $ 35 billion from the stock values of large companies, Bloomberg News reported on Saturday. .
The bank sold $ 6.6 billion in shares of Baidu Inc, Tencent Music Entertainment Group and Vipshop Holdings Ltd, before the US market opened on Friday, the report said, citing an email to customers seen by Bloomberg News . bloom.bg/3lYOrZm
Then Goldman sold $ 3.9 billion in shares of ViacomCBS Inc, Discovery Inc, Farfetch Ltd, iQIYI Inc and GSX Techedu Inc, according to the report.
Goldman Sachs did not immediately respond to a request for comment from Reuters.
Most unregistered stock offers were managed by Morgan Stanley on behalf of one or more undisclosed shareholders, the report added, citing people familiar with the matter.
Calculations based on Bloomberg data showed that some businesses exceeded $ 1 billion in individual companies, the report said.
ViacomCBS and Discovery shares fell about 27% each on Friday, while the US listed shares of Baidu and Tencent Music of China plummeted this week, falling 33.5% and 48.5%, respectively, on compared to Tuesday’s closing levels.
Reporting by Juby Babu in Bengaluru; edition by Diane Craft