Jack Ma is optimistic about Alibaba and plans to keep holding shares a day after almost selling his entire stake

According to a statement from his office, Alibaba co-founder Jack Ma is "very positive" about the business and will keep his shares, the South China Morning Post said on Friday.

Ma's office made these remarks one day after it was revealed in a regulatory filing that his family trust was scheduled to sell 10 million Alibaba Group Holdings American Depository Shares for a price of approximately $871 million.

The publication quoted Ma's office as saying that "not a single share has been sold," despite the fact that the phased sale is part of a long-standing "preset conditional plan to do a partial sell-down for the future" that was adopted in August.

"We believe the current stock price is below its fair value."

The news of the share sale and Alibaba's announcement on Thursday that it was abandoning its plans to list its cloud division due to restrictions on U.S. chip imports caused the stock of the company to fall by almost 10%.

(Sources: investing.com, reuters.com)