In August 2026, Alibaba Group Holding Limited (“Alibaba”; NYSE: BABA; HKEX: 9988 (HKD Counter) / 89988 (RMB Counter)) completed a placement of new shares. The placement comprised an aggregate of 710,000,000 new shares, raising gross proceeds of approximately HKD80 billion. The net proceeds are intended to be used to further strengthen Alibaba’s global leadership in AI through investments in its full-stack AI capabilities. Fangda Partners acted as Alibaba’s PRC legal counsel and provided comprehensive PRC legal services throughout the placement.
The Fangda team was led by Jeffrey DING, Travis XU and Cassie CHANG. Team members included Shirley LI, Jaden JI, Jasrine SUN, Julian LV, and Iris TONG.