The Zhitong Finance App learned that Daiwa released a research report saying that Alibaba-W (09988.HK) announced plans to place 710 million new shares, raising HK$80 billion, with an placement price of HK$112.7 per share, equivalent to HK$115 per ADR, with 8.4% and 3.6% off the latest closing prices of HK$123 and $119.34 for H shares and ADR, respectively. The net proceeds will be used to develop full-stack AI capabilities and expand AI infrastructure.

The Zhitong Finance App learned that Daiwa released a research report saying that Alibaba-W (09988.HK) announced plans to place 710 million new shares, raising HK$80 billion, with an placement price of HK$112.7 per share, equivalent to HK$115 per ADR, with 8.4% and 3.6% off the latest closing prices of HK$123 and $119.34 for H shares and ADR, respectively. The net proceeds will be used to develop full-stack AI capabilities and expand AI infrastructure.