(Provides particulars on share repurchase in paragraph 3-5)
Jan 2 (Reuters) – China’s Alibaba Group stated on Tuesday it had repurchased a complete of 897.9 million of its shares for $9.5 billion throughout 2023.
The shares have been purchased in each the U.S. and Hong Kong inventory markets, the corporate stated in a submitting.
The e-commerce big stated the remaining quantity the corporate’s Board had licensed for its share repurchase program, which is efficient by means of March 2025, was $11.7 billion.
“Our share repurchase program resulted in a web discount of three.3% in our excellent shares within the final 12 months after accounting for shares issued beneath our ESOP (worker inventory possession plan),” the corporate stated.
Alibaba had 20 billon excellent shares as of Dec. 31, in contrast with 29.7 billion on the finish of 2022.
(Reporting by Poonam Behura; Modifying by Savio D’Souza and Krishna Chandra Eluri)