Summary by Moomoo AI
Alibaba Group Holding Limited reported on January 2, 2024, that it had repurchased a significant number of shares over the past year. The company bought back 897.9 million ordinary shares, equivalent to 112.2 million American Depositary Shares (ADSs), spending a total of US$9.5 billion. In the last quarter ending December 31, 2023, alone, Alibaba repurchased 292.7 million ordinary shares (36.6 million ADSs) for US$2.9 billion. These repurchases were part of Alibaba's share repurchase program, conducted in both U.S. and Hong Kong markets. As a result of the buyback program, the total outstanding shares of Alibaba decreased by 3.3% from the previous year, with 20.0 billion ordinary shares outstanding as of December 31, 2023, down from 20.7 billion on December 31, 2022. The reduction accounts for shares issued under the company's Employee Stock Ownership Plan (ESOP). Alibaba's Board has authorized a remaining US$11.7 billion for the share repurchase program, which is set to continue until March 2025. The company plans to provide quarterly updates on the progress of the share repurchase program.