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6-K: Share Repurchase Update

SEC announcement ·  Jul 2 18:39
Summary by Futu AI
Alibaba Group Holding Limited reported on July 2, 2024, that it had repurchased a significant number of shares in the second quarter of 2024. The company bought back 613 million ordinary shares, equivalent to 77 million American Depositary Shares (ADSs), spending a total of US$5.8 billion. This included the repurchase of approximately 14.8 million ADSs at US$80.80 each in privately negotiated transactions concurrent with a convertible senior notes offering on May 23, 2024. The repurchases were conducted in both U.S. and Hong Kong markets as part of Alibaba's ongoing share repurchase program. As a result of the buybacks, the total outstanding shares of Alibaba decreased by 445 million ordinary shares, or a 2.3% net reduction, to 19,024 million ordinary shares (2,378 million ADSs) as of June 30, 2024. The company's Board has authorized a remaining US$26.1 billion for the share repurchase program, which is valid through March 2027.
Alibaba Group Holding Limited reported on July 2, 2024, that it had repurchased a significant number of shares in the second quarter of 2024. The company bought back 613 million ordinary shares, equivalent to 77 million American Depositary Shares (ADSs), spending a total of US$5.8 billion. This included the repurchase of approximately 14.8 million ADSs at US$80.80 each in privately negotiated transactions concurrent with a convertible senior notes offering on May 23, 2024. The repurchases were conducted in both U.S. and Hong Kong markets as part of Alibaba's ongoing share repurchase program. As a result of the buybacks, the total outstanding shares of Alibaba decreased by 445 million ordinary shares, or a 2.3% net reduction, to 19,024 million ordinary shares (2,378 million ADSs) as of June 30, 2024. The company's Board has authorized a remaining US$26.1 billion for the share repurchase program, which is valid through March 2027.
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