ALIBABA Group Holding Ltd.’s Hong Kong-listed shares yesterday jumped as SoftBank Group Corp. said Alibaba’s recent registration of additional American Depository Shares is not tied to any specific future transaction by the Japanese conglomerate.

Shares in Alibaba dropped earlier this week after the firm filed to register an additional one billion American Depository Shares with the U.S. Securities and Exchange Commission (SEC).

That triggered analyst speculation that SoftBank might look to dispose of some of its shares, particularly as it is seen to need cash to fund buybacks.

“The registration of the American Depository Share conversion facility, including its size, is not tied to any specific future transaction by SoftBank,” SoftBank said in a statement yesterday.

SoftBank CEO Masayoshi Son told analysts he was “surprised” and had not requested the filing, according to a person familiar with the matter speaking on the condition of anonymity.

The registration with the SEC will facilitate investors who want to convert Hong Kong shares into American Depository Shares in the future, Citigroup Inc. analysts including Alicia Yap said in a note yesterday.

SoftBank’s stake of around 25 percent in Alibaba is worth about US$82 billion and has its origins in a US$20 million investment in 2000. That rivals SoftBank’s own market capitalization of about US$80 billion.

SoftBank has used its Alibaba shares as collateral for loans and cut its stake using derivatives to capture upside from any rise in Alibaba’s share price. (SD-Agencies)