Alibaba steps up the largest repurchase plan in China's stock market history to $25 billion

On March 22, Alibaba announced that it will continue to expand repurchases, expanding the scale of its share repurchase program from 15 billion US dollars to 25 billion US dollars. The repurchase will continue until the end of March 2024. The move also set a record for the scale of China securities repurchases. According to the previously announced share repurchase plan, as of March 18, 2022, Alibaba Group has repurchased a total of 56.2 million American Depositary Shares (equivalent to approximately 449.6 million common shares), totaling approximately US$9.2 billion. Furthermore, according to the official announcement, the board of directors of Alibaba Group also announced the appointment of Shan Weijian, executive chairman of TaiMeng Investment Group (PAG), as an independent director of the board of directors, effective from March 31, 2022, and will become a member of the audit committee.
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