Alibaba Chair Buys 720000 Shares in HK
Alibaba chairman Joe Tsai purchased 720000 Hong Kong-listed shares for about HK$82 million. The acquisition follows a heavily discounted share sale aimed at funding AI investments.
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Alibaba chairman Joe Tsai purchased 720,000 Hong Kong-listed shares for HK$82 million, following a heavily discounted HK$80-billion share sale. The purchase on Tuesday came just two days after the e-commerce giant launched the capital raise to fund AI ambitions. China-based Alibaba aims to accelerate its technological development through the offering.
