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12h ago
Alibaba secures $10.2 billion in largest secondary share sale in Hong Kong
Aug 24, 2026
AI Summary
Alibaba has completed a secondary share sale in Hong Kong, raising approximately $10.2 billion. The sale involved 710 million shares priced at HK$112.7 each, but the company's stock experienced a significant decline following the announcement.
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- Alibaba raised HK$80 billion (approximately $10.2 billion) in a secondary share sale in Hong Kong.
- The company sold 710 million shares at a price of HK$112.7 each.
- Following the sale, Alibaba's shares fell by as much as 10%, marking the largest drop since April 2025.
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