Alibaba's Management Makes Additional Purchases, Cai Chongxin and Wu Yongming Each Buy HK$80 Million and HK$40 Million Worth of Alibaba Stock

BlockBeats News, August 24th. According to the latest information from the Hong Kong Stock Exchange, after Alibaba announced an HK$80 billion new share placement plan, Group Chairman Eric Tseng and CEO Simon Ng showed their confidence in the company's AI strategy by collectively purchasing approximately HK$120 million worth of Alibaba shares.

It is understood that Eric Tseng bought 720,000 Alibaba shares at an average price of approximately HK$112, spending about HK$80 million; CEO Simon Ng bought 350,000 Alibaba shares at an average price of approximately HK$111.6, spending about HK$40 million. The two of them collectively increased their holdings by 1.07 million shares, with a total amount of approximately HK$120 million.

The day before, Alibaba announced an HK$80 billion new share placement, and the funds raised will all be invested in full-stack AI capabilities and AI infrastructure construction. It is reported that long-term investors such as global sovereign wealth funds actively subscribed to the placement, ultimately achieving nearly three times oversubscription. Market observers believe that the management's personal purchases in the name of individuals the day after the placement was announced demonstrate full confidence in the company's AI strategy. (Hard AI)