Alibaba-W plans to place new shares in Hong Kong, with a total placement price of HKD 80 billion

Alibaba-W announced plans to allocate newly issued ordinary shares to non-U.S. persons outside the United States, with a total consideration of HKD 80 billion. This move aims to consolidate its leading position in global AI, and 100% of the net proceeds will be used to invest in full-stack AI capabilities and strengthen AI infrastructure construction

According to the Zhitong Finance APP, Alibaba-W (09988) announced that the company plans to issue new ordinary shares (placement shares) to non-U.S. persons outside the United States, with a total placement price of HKD 80 billion, subject to market and other conditions (proposed placement).

The proposed placement aims to further consolidate Alibaba's global leadership in AI. Alibaba intends to use 100% of the net proceeds from the proposed placement to invest in its full-stack AI capabilities and strengthen AI infrastructure construction