Following a stock market decline, Jack Ma rescinds his plans to sell Alibaba shares.

Billionaire, Jack Ma has shelved plans to sell hundreds of millions of dollars worth of Alibaba shares after the Chinese tech giant’s stock plummeted last week.

According to two regulatory filings made last Thursday, Ma had been considering the sale of 10 million shares, or approximately $871 million.

However, the billionaire has not sold “a single share” because the company’s stock price has underperformed his expectations, according to a post made by Alibaba (BABA) Chief People Officer Jane Jiang Fang on Wednesday on the business’s internal forum that CNN was able to view.

According to the documents, the sales were originally scheduled to occur this Tuesday through JC Properties and JSP Investment, two businesses connected to Ma and his charitable foundation.

The anticipated sales were disclosed on the same day that Alibaba released its third-quarter earnings report. At that time, the company had revealed that it was abandoning its ambitions to spin off its cloud computing division, in part because of unpredictability around US restrictions on chip shipments to China.

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Alibaba’s market value was wiped out on Thursday as its shares fell 9% in New York and nearly 10% in Hong Kong on Friday.

Alibaba’s stock has decreased by more than 10% so far this year.

According to Jiang, the timing of the two pieces of news was only a “coincidence.”

Jiang urged staff members to discount rumors that Ma had lost faith in the company, which had been sparked by the news of the sale. According to the executive, the transactions were part of a long-term plan that was announced in August and allowed Ma’s office to engage in welfare and agricultural technology initiatives both inside and outside of China.

According to her, Jack Ma will not sell the Hangzhou-based company’s stock because it “is currently significantly lower than Alibaba’s actual value.”

Chairman of Alibaba Joe Tsai added his voice as well, stating in a remark on the same post that was viewed by CNN that he had “full confidence” in the business.