Alibaba chair buys another 720,000 company HK shares
An Alibaba logo is displayed at the company's booth at China International Fair for Trade in Services in Beijing, China, Sept 10, 2025.
PHOTO: Reuters file
BEIJING — Alibaba chairman Joe Tsai purchased another 720,000 Hong Kong-listed shares of the company on Tuesday (Aug 25), two days after the Chinese e-commerce and cloud computing giant launched a heavily discounted HK$80-billion ($10.2 billion) share sale to fund its AI ambitions.
Tsai bought the stocks at an average price of HK$113.47 (S$18) for a total of approximately HK$82 million, a stock exchange filing showed.
With this purchase, Tsai and CEO Eddie Wu have purchased in aggregate over HK$200 million worth of shares over the past two days.
Alibaba founder Jack Ma has increased his holdings of the company's Hong Kong-listed shares by more than HK$600 million as a vote of confidence in the company's AI prospects, state-backed Chinese media STAR Market Daily reported on Tuesday, citing unnamed sources.
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