Alibaba shares dropped nearly 10% after announcing a $10.2 billion share sale at an 8.4% discount, raising concerns over shareholder dilution and risks tied to its AI investments.
The company plans to issue 710 million new shares at discount
Aug 24, 2026
01:55 pm
What's the storyAlibaba's shares plunged nearly 11% on Monday after the Chinese tech giant announced a massive HK$80 billion ($10.2 billion) share placement to fund its artificial intelligence (AI) expansion.
The company plans to issue 710 million new shares at HK$112.70 each, below Friday's closing price of HK$123.
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