Summary by Futu AI
Alibaba Group Holdings Limited completed a large-scale share repurchase program on December 31, 2023, with a total investment of $95 billion and repurchased approximately 8.979 million shares of ordinary shares, equivalent to 1,122 million shares of US common stock. The repurchase program took place in the U.S. and Hong Kong markets and separately repurchased $29 billion in shares in the fourth quarter of 2023. This led to a net decrease of 3.3% in the company's circulating ordinary shares from 207 billion shares at the end of 2022 to 200 billion shares. The company's board currently has a repurchase amount of $117 billion, which runs until March 2025. The Company will update the repurchase progress after the end of each quarter. Alibaba stressed that its shares have different voting structures and shareholders and potential investors should be aware of the risks involved. The company's shares are listed on the New York Stock Exchange and the Hong Kong Stock Exchange under the stock codes BABA and 9988, respectively.