On July 2nd,$BABA-SW (09988.HK)$According to the latest announcement, as of the quarter ending June 30, 2024, a total of 613 million common shares (equivalent to 77 million American depositary shares) were repurchased at a total price of $5.8 billion. In terms of repurchase amount, this is the largest repurchase quarter for Alibaba.
The quarter with the strongest buyback momentum.
According to the latest announcement disclosed by Alibaba Group on the Hong Kong Stock Exchange, as of the quarter ended June 30, 2024, the Group has repurchased a total of 613 million ordinary shares (equivalent to 77 million American Depositary Shares) at a total price of 5.8 billion US dollars.
The above buyback was carried out in the US and Hong Kong markets according to the share buyback plan, which included approximately 14.8 million American Depositary Shares repurchased at a price of $80.80 per share at the same time as the pricing of convertible preferred notes issued on May 23.
As of June 30, 2024, the number of Alibaba Group's outstanding ordinary shares was 19.024 billion, a net decrease of 445 million shares or 2.3% compared to March 31, 2024.
As of June 30, 2024, there is still a remaining buyback amount of 26.1 billion US dollars under Alibaba's share buyback plan, which is valid until March 2027.
Continuously improving shareholder returns.
Just two months ago, when Alibaba released its fourth quarter and full-year results for fiscal year 2024, it announced that it would continue to implement its share buyback plan to continuously improve shareholder returns.
According to that financial report, in the fourth quarter of fiscal year 2024, Alibaba continued to implement its share buyback plan. According to the plan, Alibaba repurchased a total of 524 million ordinary shares (equivalent to 65 million American Depositary Shares) at a total cost of 4.8 billion US dollars, showing a more significant increase in buyback momentum than in the previous quarter.
After considering the issuance of shares for employee shareholding plan, the outstanding shares of Alibaba decreased by 2.6% in the fourth quarter.
Overall, in fiscal year 2024, Alibaba repurchased a total of 1.249 billion ordinary shares (equivalent to 156 million American Depositary Shares) at a total cost of 12.5 billion US dollars, which after considering the issuance of shares for employee shareholding plan, resulted in a net decrease in outstanding shares of 5.1% for the fiscal year.
Alibaba Group's CFO, Xu Hong, previously stated that the group's heavy investment in strategic priority businesses has shown initial results, and is confident in the business prospects. The group will continue to fulfill its commitment to improving shareholder returns. Source: Brokerage China Original title: Alibaba's latest announcement!
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