17:37 - 24.08.2026

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August 24, Fineko/abc.az. Chinese tech giant Alibaba has offered 710 million shares for sale at HK$112.70 per share to finance its artificial intelligence projects.

Through this transaction, the company raised a total of HK$80 billion (approximately $10.21 billion). The proceeds will be directly allocated to the development of AI technologies and the expansion of infrastructure capacity.

Market Reaction and Record Metrics:

• Stock Drop: Following the share sale, the company's stock fell 8.5% on Monday, marking its steepest single-day decline since early 2025.

• High Demand: Although the shares were sold at a 3.6% discount compared to the closing price in the US, demand from institutional investors was roughly three times the offered supply.

• Historical Record: This transaction stands as the largest primary follow-on share offering ever executed by a company listed on the Hong Kong Stock Exchange.

• Global Scale: Alibaba's share sale ranks as the third-largest equity offering on global markets this year, behind Alphabet and Intel.

Notably, Alibaba plans to invest over 380 billion yuan ($56.5 billion) in artificial intelligence over the next three years.