ALI BABA PROPOSES TO SELL 80 BILLION HK$ FOR THE NEW UNIT AND RAISE ALL FUNDS FOR AI

ON 23 AUGUST, ACCORDING TO THE NEWSPAPER KOTSEMCHER, ALI BABA ANNOUNCED HIS INTENTION TO DISTRIBUTE NEW SHARES TO NON-UNITED STATES INDIVIDUALS OUTSIDE THE UNITED STATES, FOR A TOTAL OF HK$ 80 BILLION. THIS WAS ALSO THE FIRST TIME THAT A NEW STOCK-SALE HAD BEEN LAUNCHED IN 2019 WHEN THE SHARES OF THE PORT WERE LISTED. THE NET PROCEEDS FROM THIS DISTRIBUTION WILL BE USED TO INVEST 100 PER CENT IN AI CAPACITY, STRENGTHEN AI INFRASTRUCTURE AND FURTHER CONSOLIDATE ALI ' S GLOBAL LEAD IN AI。