• 18/04/2024 04:31

Alibaba bought back $4.8 billion of its own shares in the fourth financial quarter

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.

Alibaba bought back its own shares for $4.8 billion in the fourth financial quarter

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Details

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%.

minfin.com.ua

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