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BABA-W Placement Price at HKD112.7 Per Share at 8%+ Discount; Share Placement Expected to Complete This Wed
2026-08-24 10:00:48 BABA-W (09988.HK) announced its first share placement plan since its listing in 2019, proposing to place 710 million new shares, equivalent to approximately 3.57% of the enlarged total issued shares. The placement price is HKD112.7 per share, representing an 8.37% discount to last Friday's (21st) closing price of HKD123, and about a 3.6% discount to the reference share price of HKD116.95 converted from last Friday's ADR closing price of USD119.34 on the New York Stock Exchange. The placement is expected to be completed this Wednesday (26th). The gross proceeds will amount to HKD80 billion, while net proceeds will be approximately HKD79.7 billion, all of which will be used to invest in its full-stack AI capabilities and strengthen AI infrastructure development. BABA-W last traded at HKD111.2, down 9.59%, already sinking below the placement price. Trading volume reached 114 million shares, involving HKD12.771 billion. ~ AASTOCKS Financial News Website: www.aastocks.com | |