Alibaba Raises $10 Bln in Record Hong Kong Share Sale

Alibaba raised HK$80 billion ($10.2 billion) in Hong Kong's biggest secondary share sale. The online retail giant-turned-AI player sold 710 million shares at HK$112.7 each. Its shares slid as much as 10% Monday morning, their steepest drop since April 2025. Bloomberg's Anthony Stephens reports.