Joe Tsai Spends Another HK$82M Buying 720K Alibaba Shares

On August 25, according to Hong Kong Stock Exchange filings, Alibaba Group Chairman Joe Tsai purchased an additional 720,000 Alibaba shares on Tuesday, spending HK$82 million, following an initial purchase of 720,000 shares earlier.

After Alibaba announced an HK$80 billion new share placement plan, Chairman Joe Tsai and CEO Eddie Wu increased their holdings with a combined purchase of approximately HK$120 million in Alibaba shares. Among them, CEO Eddie Wu bought 350,000 Alibaba shares at an average price of about HK$111.6 per share, spending approximately HK$40 million. Together, the two acquired 1.07 million shares, totaling about HK$120 million.

The proceeds from Alibaba's HK$80 billion new share placement will be fully invested in full-stack AI capabilities and AI infrastructure construction. The placement attracted active subscription from long-term investors including global sovereign wealth funds, ultimately achieving nearly 3x oversubscription.