Alibaba proposes Hong Kong share placement worth $10 billion

Aug 23 (Reuters) – China’s ​Alibaba announced ‌on Sunday a ‌proposed ​placement ⁠of ⁠new shares in Hong ​Kong.

The ⁠aggregate ⁠placement ​consideration is ​HK$80 billion ($10.2 ‌billion), the ⁠company added.

($1 = 7.8396 Hong ⁠Kong ‌dollars)

(Reporting ⁠by ​Gnaneshwar ‌Rajan ​in Bengaluru; ⁠Editing by William ​Mallard)