Summary by Moomoo AI
Alibaba Group Holding Limited (NYSE: BABA), a leading global e-commerce and technology company, has reported a significant share repurchase activity for the fiscal year ended March 31, 2024. The company repurchased a total of 1,249 million ordinary shares, equivalent to 156 million American Depositary Shares (ADSs), amounting to US$12.5 billion. This repurchase was part of Alibaba's ongoing share repurchase program and was conducted in both U.S. and Hong Kong markets. As a result of the repurchase program, Alibaba experienced a net decrease of 1,057 million ordinary shares, or a 5.1% reduction in outstanding shares, after adjusting for shares issued under its Employee Stock Ownership Plan (ESOP). The company's outstanding shares stood at 19,469 million ordinary shares, or 2,434 million ADSs, as of March 31, 2024. The Board has authorized a remaining US$31.9 billion for the share repurchase program, which is set to continue through March 2027.