Alibaba CEO, Chairman Buy HK$118 Million of Shares

Alibaba Group Holding executives bought a combined 1.07 million shares of the company in Hong Kong, according to filings with the Hong Kong Stock Exchange.

Chief Executive Officer Eddie Wu Yongming purchased 350,000 Alibaba shares at an average price of HK$111.6359 each on Aug. 24, according to a disclosure of interests filing. His long position in the company rose to 55.43 million shares, representing 0.29% of Alibaba’s issued voting shares.

Alibaba Chairman Joe Tsai Chung purchased 720,000 shares at an average price of HK$112.0803 each on the same day, the filing showed. His long position increased to 274.68 million shares, or 1.43% of the company’s issued voting shares.

Based on the disclosed average prices, the two purchases were worth a combined HK$118.2 million.

The Hong Kong Stock Exchange filings classify both transactions under disclosure code 1101, which indicates that the increase in their interests resulted from the purchase of shares.

Alibaba shares are listed in Hong Kong under the stock code 9988.