BEIJING, Aug. 24 (Xinhua Silk Road) -- Alibaba Group Holding Ltd. announced Sunday the pricing of its proposed 80-billion-Hong Kong dollars (HKD) placing of 710,000,000 new ordinary shares in Hong Kong Special Administrative Region at a placing price of 112.70 HKD per placement share.
The proposed equity placement, expected to close on August 26, 2026, is subject to customary closing conditions and is being undertaken to extend the company's global artificial intelligence (AI) leadership, according to its announcement.
Alibaba intends to use 100 percent of the net proceeds from the equity placement to invest in its full stack AI capabilities, including to expand and enhance its AI infrastructure.
(Edited by Duan Jing with Xinhua Silk Road, duanjing@xinhua.org)
A single purchase
