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Updated January 2nd, 2024 at 20:31 IST

Alibaba Group executes $9.5 billion share repurchase in 2023 across US and Hong Kong markets

Alibaba's share repurchase led to a 3.3% reduction in outstanding shares over the past year, including those issued via the ESOP.

Business Desk
Representative
Representative | Image:Shutterstock

Alibaba Group announced on Tuesday that it had engaged in share repurchases, acquiring a total of 897.9 million of its shares for $9.5 billion throughout the year 2023. The shares were procured from both the US and Hong Kong stock markets, as disclosed in a company filing.

The e-commerce giant specified that the remaining amount authorised by the company's Board for its share repurchase program, active until March 2025, stood at $11.7 billion.

Alibaba highlighted the impact of its share repurchase program, noting a net reduction of 3.3 per cent in outstanding shares over the past 12 months, accounting for shares issued under the Employee Stock Ownership Plan (ESOP). As of December 31, Alibaba reported 20 billion outstanding shares, down from 29.7 billion at the close of 2022.

(With Reuters Inputs)

Published January 2nd, 2024 at 20:31 IST

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