Alibaba Chairman Tsai Chongxin and CEO Wu Yongming Buy About HK$120 Million in Shares Following HK$80 Billion Placement Plan
Alibaba Group announced a new HK$80 billion share placement plan.
Chairman Tsai Chongxin and CEO Wu Yongming acquired a total of around HK$120 million in Alibaba shares, per the latest filings with the Hong Kong Stock Exchange.
Analysts and market observers framed the trades as a signal of confidence in Alibaba's artificial intelligence strategy.