Alibaba Group Upsizes Share Repurchase Program to US$10 Billion

Rhea-AI Summary

Alibaba Group Holding Limited (NYSE: BABA) has announced an increase in its share repurchase program from US$6 billion to US$10 billion. This program is set to be effective for a two-year period, concluding in 2022. The execution of the share repurchase program began in this quarter, signaling the company's commitment to enhancing shareholder value.

Positive

• Increased share repurchase program from $6 billion to $10 billion, indicating strong confidence in the company's stock value.
• Expected positive impact on shareholder value and earnings per share (EPS).

Negative

• None.

Alibaba Group Holding Limited (NYSE: BABA and HKEX: 9988, the “Company”) today announced that the Company’s board of directors has authorized to upsize the Company’s share repurchase program from US$6 billion to US$10 billion (the “Share Repurchase Program”). This Share Repurchase Program will be effective for a two-year period through the end of 2022. The Company commenced the execution of its Share Repurchase Program this quarter.

About Alibaba Group

Alibaba Group’s mission is to make it easy to do business anywhere. The company aims to build the future infrastructure of commerce. It envisions that its customers will meet, work and live at Alibaba, and that it will be a good company that lasts for 102 years.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201227005014/en/

FAQ

What is the updated amount of Alibaba's share repurchase program?

Alibaba has increased its share repurchase program from $6 billion to $10 billion.

How long will the Alibaba share repurchase program last?

The share repurchase program will be effective for a two-year period through the end of 2022.

What impact does Alibaba's share repurchase program have on its stock?

The repurchase program is expected to enhance shareholder value and potentially increase earnings per share.