Alibaba Group says repurchased US$9.5 billion worth shares in 2023

CHINA’S Alibaba Group said on Tuesday (Jan 2) it had repurchased a total of 897.9 million of its shares for US$9.5 billion during 2023.

The shares were bought in both the US and Hong Kong stock markets, the company said in a filing.

The e-commerce giant said the remaining amount the company’s Board had authorised for its share repurchase programme, which is effective through March 2025, was US$11.7 billion.

“Our share repurchase programme resulted in a net reduction of 3.3 per cent in our outstanding shares in the last 12 months after accounting for shares issued under our ESOP (employee stock ownership plan),” the company said.

Alibaba had 20 billon outstanding shares as of Dec 31, compared with 29.7 billion at the end of 2022. REUTERS