Alibaba Group Holding Ltd. is offering $1.5 billion to acquire Chinese grocery delivery firm Pupu, initiating a bidding war as part of a broader campaign to wrest market share from Meituan in online commerce.

University of Florida finance professor Jay Ritter, who runs the school’s IPO Initiative and is widely regarded as the dean of IPO research, told CNBC on June 11, 2026, that SpaceX’s pending offering will set a first-day underpricing record that dwarfs prior benchmarks held by Visa and Alibaba.

Alibaba Group Holding ( BABA) is extending its losing streak for a seventh consecutive session, with shares down 2.24% at $111.77 in Thursday afternoon trading. On a year-to-date basis, Alibaba shares have fallen over 24.66%, significantly underperforming the broader market, with the S&P 500 Index up 6.22% so far in 2026.

Shares of Alibaba Group Holding Ltd. and JD.com Inc. slid in Hong Kong after China’s market watchdog reprimanded top Chinese e-commerce players for what it said were misleading sales promotions.

[HONG KONG] Alibaba Group Holding is offering US$1.5 billion to acquire Chinese grocery delivery firm Pupu, initiating a bidding war as part of a broader campaign to wrest market share from Meituan in online commerce.

Consolidated Revenue Growth Will Be Much Higher In FY2027 Alibaba Is Becoming An AI Giant Alibaba: Cloud's Promise Sustains, But The Stock Is Pricey Still Ant International eyes $1B capital raise from Silver Lake,

Alibaba Group Holding Ltd. has replaced the head of its Dingtalk app, making a high-profile leadership change after an internal debate erupted over the productivity platform’s place in the company’s broader AI strategy.