Hong Kong Exchange filings show that Alibaba Chairman Joe Tsai and CEO Eddie Wu bought a combined roughly HK$120 million worth of Alibaba shares after the company announced an HK$80 billion new share placement. Tsai purchased 720,000 Hong Kong-listed Alibaba shares at an average price of about HK$112, for roughly HK$80 million. Wu bought 350,000 shares at an average price of about HK$111.6, for around HK$40 million. Together, the two executives acquired 1.07 million shares.
The purchases came one day after Alibaba said it would raise HK$80 billion through a new share placement. The company said all proceeds would be used for full-stack AI capabilities and AI infrastructure. According to the report, the placement drew active interest from long-term investors including global sovereign wealth funds and ended up nearly three times oversubscribed. Market participants cited in the source said the executives’ personal purchases on the day after the placement reflected confidence in Alibaba’s AI strategy.
According to the latest Hong Kong Exchange disclosures cited by BlockBeats on Aug. 24, Alibaba Chairman Joe Tsai and CEO Eddie Wu bought a combined roughly HK$120 million of Alibaba shares after the company announced an HK$80 billion new share placement.
Tsai purchased 720,000 Hong Kong-listed Alibaba shares at an average price of about HK$112, for roughly HK$80 million. Wu bought 350,000 shares at an average price of about HK$111.6, for around HK$40 million. Their combined purchases totaled 1.07 million shares.
One day earlier, Alibaba announced the HK$80 billion share placement and said all proceeds would go toward full-stack AI capabilities and AI infrastructure construction.
According to the report, the placement drew active subscriptions from long-term investors including global sovereign wealth funds, and the final book was nearly three times oversubscribed. Market participants said the executives’ personal share purchases the day after the placement showed confidence in the company’s AI strategy.
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