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Alibaba Chairman, CEO Buy HK$120 Million of Shares After Stock Offering

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Alibaba's (HKG:9988) Chairman Joseph Tsai and Chief Executive Officer Eddie Wu bought about HK$120 million worth of the company's shares on Monday, according to Hong Kong stock exchange disclosures.

Tsai purchased about HK$81 million worth of shares, while Wu acquired shares valued at around HK$39 million, the filings showed.

Their combined disclosed holdings represent 1.72% of Alibaba's issued voting shares.

The purchases came after Alibaba sought to raise HK$80 billion in gross proceeds through a share sale.

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