Alibaba Group says repurchased $9.5 billion worth shares in 2023
Reuters
Published Jan 02, 2024 06:37AM ET
Updated Jan 02, 2024 07:04AM ET
(Reuters) -China's Alibaba (NYSE:BABA) Group said on Tuesday it had repurchased a total of 897.9 million of its shares for $9.5 billion during 2023.
The shares were bought in both the U.S. and Hong Kong stock markets, the company said in a filing.
The e-commerce giant said the remaining amount the company's Board had authorized for its share repurchase program, which is effective through March 2025, was $11.7 billion.
"Our share repurchase program resulted in a net reduction of 3.3% in our outstanding shares in the last 12 months after accounting for shares issued under our ESOP (employee stock ownership plan)," the company said.
Alibaba had 20 billon outstanding shares as of Dec. 31, compared with 29.7 billion at the end of 2022.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.