Jack Ma Boosts Alibaba Stake by Over HK$600 Million
Jack Ma, founder of Alibaba, has increased his holdings in the company's Hong Kong-listed shares by more than HK$600 million over recent days, following a placement financing move. Combined with purchases by Chairman Joe Tsai and CEO Eddie Wu, who added about HK$200 million over two days, total management buying exceeds HK$800 million.
On August 25, sources said that as Alibaba launched a placement financing, founder Jack Ma increased his holdings in the company's Hong Kong-listed shares over consecutive days, with the total exceeding HK$600 million. Combined with earlier disclosures from the Hong Kong Stock Exchange, Alibaba Group Chairman Joe Tsai and Chief Executive Officer Eddie Wu added approximately HK$200 million in shares over two consecutive days. The cumulative purchases by Ma and Alibaba's management in recent days have surpassed HK$800 million.