Alibaba Group Holding Ltd ADR

BABA: XNYS (USA)
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Alibaba: HKD 80 Billion Placement to Fund AI; Fair Value Estimate Trimmed by 3%

Alibaba announced a new HKD 80 billion ordinary share placement at HKD 112.70 per share, a 3.6% discount to the US close price on Friday, to fund artificial intelligence investment. Shares fell 9% in Monday's Hong Kong session.

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