Alibaba proposes Hong Kong share placement worth $10 billion

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August 23, 2026 12:47 AM EDT

FILE PHOTO: FILE PHOTO: People visit an Alibaba booth during the World Artificial Intelligence Conference in Shanghai, China July 26, 2025. REUTERS/Go Nakamura/File Photo/File Photo

Aug 23 (Reuters) - ‌China's ​Alibaba announced ​on Sunday a proposed placement of ‌new shares in Hong Kong.

The ⁠aggregate placement consideration is HK$80 ‌billion ($10.2 billion), the ‌company added.

Alibaba said the deal would mark the ​largest-ever primary follow-on offering by a Hong ⁠Kong-listed company and the biggest Regulation S ​equity offering on record, while ranking as the ​world's third-largest primary ‌follow-on share sale this year after ⁠Alphabet and Intel.

The company said it intends to use 100% ⁠of the net proceeds from ​the placement to invest in its full stack AI capabilities, including ‌expanding and enhancing its AI infrastructure.

($1 = ‌7.8396 Hong Kong dollars)

(Reporting ⁠by Gnaneshwar ‌Rajan in ​Bengaluru; Editing by William Mallard and Raju ‌Gopalakrishnan)


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