THE BOTTOM LINE
Alibaba’s US$10 billion share sale does not stun just Michael Burry
The deal is sowing discomfort in Hong Kong’s finance circle
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[HONG KONG] Alibaba’s HK$80 billion (US$10.2 billion) share sale is Hong Kong’s biggest follow-on offering on record. But it is being met with scepticism.
Michael Burry of The Big Short fame, for one, criticised the deal, saying that he moved his entire Alibaba position into rival JD.com not too long ago, and that the e-commerce giant’s shares would have to fall by half for him to become interested again.
“I cannot bless share issuances,” the American investor wrote on X.
