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Alibaba completes HKD 80 billion placement, setting a record for the largest follow-on offering by a listed company in Hong Kong's history, with all proceeds invested in AI
Alibaba completed a new share placement of HKD 80 billion, intending to place 710 million shares at HKD 112.70 per share, representing a discount of approximately 8.37% to the previous closing price, making it the largest listed company follow-on offering in Hong Kong's history. 100% of the net proceeds from this fundraising will be invested in full-stack AI capabilities and infrastructure construction.
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