Alibaba, a Chinese ecommerce and cloud computing company based in Hangzhou, said chair Joseph Tsai and CEO Eddie Wu bought about HK120million(US15.3 million) of its shares on August 24.

The purchases came after Alibaba’s Hong Kong stock fell 8.5%, its biggest drop since early 2025, following an HK80billion(US10.2 billion) share sale to fund AI investment.

Filings showed Tsai bought about HK$81 million (US$10.3 million) worth of shares in Hong Kong, while Wu bought about HK$39 million (US$4.97 million).

Together, the two executives own less than 2% of Alibaba.

The deal was priced at a 3.6% discount to the August 21 US closing price and drew demand from institutional investors for almost three times the size of the offering.

🔗 Source: Bloomberg

Recent Alibaba developments