---
title: "Understanding the Market | Alibaba-W (09988) opened down over 8%, plans to raise HKD 80 billion through a placement entirely for AI development"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/296721087.md"
description: "Alibaba-W (09988) opened down over 8%, and as of the time of writing, it has fallen 8.05% to HKD 113.1, with a transaction volume of HKD 1.449 billion. In terms of news, on August 23, Alibaba announced plans to allocate new shares to non-U.S. persons outside the United States, with a total allocation amount of HKD 80 billion. This time, Alibaba is allocating 710 million shares at a price of HKD 112.7 per share, which represents a discount of about 8.4% compared to the closing price of HKD 123 on August 21. It is worth noting that this is the first time Alibaba has initiated a new share allocation since its listing on the Hong Kong stock market in 2019. The net proceeds from this allocation will be used 100% to invest in full-stack AI capabilities, strengthen AI infrastructure construction, and further consolidate Alibaba's global leading position in the AI field"
datetime: "2026-08-24T01:29:56.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/296721087.md)
  - [en](https://longbridge.com/en/news/296721087.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/296721087.md)
generator: "portal-rs"
---

# Understanding the Market | Alibaba-W (09988) opened down over 8%, plans to raise HKD 80 billion through a placement entirely for AI development

According to Zhitong Finance APP, Alibaba-W (09988) opened down over 8%, and as of the time of writing, it has dropped 8.05%, trading at HKD 113.1, with a transaction volume of HKD 1.449 billion.

In terms of news, on August 23, Alibaba announced plans to allocate new shares to non-U.S. persons outside the United States, with a total allocation amount of HKD 80 billion. This time, Alibaba is allocating 710 million shares at a price of HKD 112.7 per share, which represents a discount of about 8.4% compared to the closing price of HKD 123 on August 21. Notably, this is the first time Alibaba has initiated a new share allocation since its Hong Kong listing in 2019. The net proceeds from this allocation will be used 100% to invest in full-stack AI capabilities, strengthen AI infrastructure construction, and further consolidate Alibaba's global leading position in the AI field

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---
> **Disclaimer: This article is for reference only and does not constitute any investment advice.**