Alibaba has completed pricing for a HK$80 billion share placement, equivalent to about $10.2 billion, with the company saying the net proceeds will be used entirely to invest in its full-stack AI capabilities and strengthen AI infrastructure. According to people close to the transaction, the deal was nearly three times oversubscribed, drawing more than HK$200 billion in orders.
Those sources said sovereign investors and long-only funds accounted for more than 40% of final allocations, pointing to strong participation from longer-term capital. Major sovereign funds from the Middle East, Europe, and Asia were said to have joined the offering. The same sources described the order book as high quality.
Alibaba’s announcement also listed the banks involved in the placement. China International Capital Corporation, HSBC, Morgan Stanley, and UBS served as joint overall coordinators, joint bookrunners, and joint placing agents, while Barclays, Citi, and JPMorgan acted as joint bookrunners. Separately, MSX.COM data showed Alibaba shares fell more than 10% in premarket trading after news of the placement, before trimming losses to about 9.35%.
Alibaba said it has completed the pricing of a new share placement worth HK$80 billion, or about $10.2 billion. The company said net proceeds from the deal will be used entirely to invest in full-stack AI capabilities and to strengthen AI infrastructure.
According to people close to the transaction, the placement was nearly three times oversubscribed, with total orders exceeding HK$200 billion. The same sources said sovereign investors and long-only funds made up more than 40% of final allocations, and described demand for the offering as strong with high-quality orders.
Those sources also said major sovereign funds from the Middle East, Europe, and Asia took part in the subscription. They said Alibaba’s AI spending presented a visible return path, which helped win support from global long-term capital in the offering.
Banks named in the placement
In its announcement, Alibaba said China International Capital Corporation, HSBC, Morgan Stanley, and UBS acted as joint overall coordinators, joint bookrunners, and joint placing agents for the share sale. Barclays, Citi, and JPMorgan served as joint bookrunners.
Shares fall in premarket trading
MSX.COM data showed Alibaba shares fell more than 10% in premarket trading on the news of the placement. The stock was later down about 9.35%.
The item was carried by Odaily, citing Shanghai Securities News and transaction-related sources where specified.
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