Hong Kong Stocks Open Lower as Global Markets Eye Iran Sanctions

Alibaba plans to raise $10.21 billion via a new share placement, issuing 710 million shares at HK$112.70 each. Proceeds will fund AI and cloud computing infrastructure. Shares dropped 10.2% post-announcement, reflecting investor concerns about dilution.

Alibaba's (HK:9988) shares dropped 9.67% after Michael Burry exited his stake, shifting to JD.com. Burry cited Alibaba's $10.2B share placement for AI investment and declining returns. Alibaba's Q2 net profit fell 75% YoY despite 9% revenue growth. JD.com shares also declined 2.08%.

Alibaba's Hong Kong-listed shares dropped 10% after a $10.2B share placement at an 8.4% discount to fund AI development. The company's quarterly net profit fell 75% due to AI spending, which it aims to recoup in 2.5 years. This is the largest-ever primary follow-on offering in Hong Kong.

Alibaba priced a $10.2 billion new share offer at an 8.4% discount to its Hong Kong closing price. The 710 million shares represent 3.7% of its total outstanding shares. Shares fell over 10% at market open. Proceeds will fund AI investments, according to the company. Banks reported strong interest from investors.

Alibaba's shares dropped 8% after a HK$80 billion (US$10.21 billion) share sale to fund AI investments. The company sold 710 million new shares at an 8.4% discount. Proceeds will be used for AI development, including chips and infrastructure. The offering was oversubscribed, with a 90-day lockup period. CEO Eddie Wu emphasized the need for capital expenditure to capture future growth. Investor Michael Burry criticized the share issuance, stating it would lower Alibaba's return on invested capita

Alibaba's shares dropped 8% in Hong Kong trading after completing an $10.21 billion share sale at an 8.4% discount. The company aims to use proceeds for AI development. Quarterly net profit fell 75% due to AI-related spending, but Alibaba accelerated its AI investment payback period to 2.5 years.