Joseph Tsai

Alibaba Group Holding Ltd. completed the largest follow-on share sale in Hong Kong history, raising HK$80 billion ($10.2 billion) by issuing 710 million new shares at HK$112.70 each, with net proceeds…

Alibaba's stock has fallen roughly 40% from its January high after the company reported a 75% plunge in quarterly net income to 10.5 billion yuan and announced a $10.2 billion share sale to fund AI in…