“Alibaba announcing its plan to raise about HK$80 billion ($10.2 billion) via a share sale to fund its AI investments — which would be Hong Kong’s largest follow‑on offering by a company on record.”
“The company’s American Depositary Receipts are down 18.6% for the year and fell 8.6% Friday. Its Hong Kong-listed shares are also down 13.9% for the year so far.”
“The Chinese firm said separately on Sunday that it priced the offering at HK$112.70 per share, compared with the Hong Kong market closing price of HK$123 on Friday.”
