Alibaba Group bought 524 million of its own shares for $4.8 bn

11:06 - 4.04.2024

April 4, Fineko/ Alibaba Group, a Chinese corporation, repurchased 524 million of its own ordinary shares for $4.8 bn in the 4th fiscal quarter, which ended on March 31, 2024, ABC.AZ reports with reference to company's press service.

Alibaba has been buying up securities in the U.S. and Hong Kong markets as part of its share buyback program.

For the entire fiscal year, Alibaba acquired a total of 1.2 billion of its own common shares for a total of $12.5 bn. As of March 31, 2024, the company had 19.4 billion ordinary shares outstanding, which is 520 million fewer securities compared to December 31, 2023.