Alibaba Group Holding Ltd. (HK:9988) has released an update.
Alibaba Group Holding Ltd. has announced a substantial share repurchase, buying back 613 million ordinary shares for US$5.8 billion in the quarter ended June 30, 2024, resulting in a 2.3% net decrease of their outstanding shares. The repurchase program, reflective of the company’s confidence, was executed across U.S. and Hong Kong markets and aligns with their ongoing strategy to enhance shareholder value. Additionally, investors are reminded of the risks associated with Alibaba’s weighted voting rights structure.
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