Alibaba Group Announced Proposed Placing of New Shares in Hong Kong

Alibaba Group Announced Proposed Placing of New Shares in Hong Kong

Alibaba Group Holding Limited (NYSE: BABA and HKEX: 9988 (HKD Counter) and 89988 (RMB Counter), “Alibaba,” “Alibaba Group” or the “Company”) today announced that it proposes to place newly issued ordinary shares of the Company (the “Placement Shares”) to non-U.S. persons outside the United States with an aggregate placing consideration of HK$80 billion, subject to market and other conditions (the “Equity Placement”).

The Equity Placement is being undertaken to extend the Company’s global AI leadership. Alibaba intends to use 100% of the net proceeds from the Equity Placement to invest in its full stack AI capabilities, including to expand and enhance its AI infrastructure.

The Placement Shares have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws. They are being offered and sold only to certain non-U.S. persons in offshore transactions in reliance on Regulation S under the U.S. Securities Act. The Placement Shares may not be offered or sold in the United States absent registration or an exemption from registration under the U.S. Securities Act.