Alibaba set to open down 8% in Hong Kong after $10.2 billion share placement plan

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 24 Aug 2026 09:32AM SHANGHAI, Aug 24 : Hong Kong-listed shares of Alibaba are set to open 8 per cent lower on Monday after the Chinese e-commerce and cloud computing giant launched a $10.2 billion share placement to fund AI development.Alibaba said on Monday said it has priced its HK$80 billion ($10.21 billion) share placement at HK$112.70 apiece, in an offering aimed at funding artificial intelligence-related development. Source: Reuters