Chinese Internet giant Alibaba Group Holding Ltd. bought back 524 million of its own shares (equivalent to 65 million ADS) for a total of $4.8 billion in the fiscal fourth quarter ended March 31, the company said.
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Alibaba securities are circulating in the USA and Hong Kong, and share repurchases were carried out in both markets.
The quarterly buyback volume was higher only in July-September 2021, when it amounted to $5.1 billion.
For the entire past fiscal year Alibaba bought back 1.249 billion shares (equivalent to 156 million ADS) for $12.5 billion.
In February 2024, the company announced that its board of directors approved an increase in the volume of the buyback program by $25 billion. The program will be valid until the end of March 2027.
Alibaba shares in Hong Kong lost 0.9% on Wednesday. Since the beginning of this year, their cost has decreased by 7%, and over the last 12 months – by 26.4%.
