Alibaba increases share buyback size to record high $25 billion
2 years, 9 months ago

Alibaba increases share buyback size to record high $25 billion

Hindustan Times  

Alibaba raised its share buyback programme to $25 billion on Tuesday, the largest ever repurchase plan by the e-commerce giant, to prop up its battered shares as it fights off regulatory scrutiny and concerns about slowing growth. "The upsized share buyback underscores our confidence in Alibaba's long-term, sustainable growth potential and value creation," Deputy Chief Financial Officer Toby Xu said. Authorities subsequently halted the planned IPO of its financial arm Ant Group and slapped Alibaba with a record $2.8 billion fine for anti-competitive behaviour, triggering a long slide in its shares. Alibaba also named Weijian Shan, the executive chairman of investment group PAG, as an independent director to its board, and said Borje Ekholm, the CEO of Ericsson, will retire from Alibaba's board on March 31.

Record High Share Billion Shares Alibaba Record High 25 Buyback Size High 25  buyback  size  group  shares  growth  alibaba  share  record  high  25  programme  stock  increases  value  billion  financial

History of this topic

Alibaba initiates $25 billion share buyback after revenue upset market but fails to impress investors
11 months, 1 week ago

Alibaba initiates $25 billion share buyback after revenue upset market but fails to impress investors

Hindustan Times  

Alibaba has announced a $25 billion share buyback program after it failed to meet market expectations for revenue in the December quarter. Alibaba earnings report from fiscal third quarter Alibaba's financial results for the December quarter revealed a revenue of 260.35 billion Chinese yuan, slightly below the expected 262.07 billion yuan. The December quarter also saw Alibaba's net income drop …

Alibaba shares plunge as much as 10% after canceling plans to spin off cloud unit
1 year, 1 month ago

Alibaba shares plunge as much as 10% after canceling plans to spin off cloud unit

Associated Press  

HONG KONG — Shares of Chinese e-commerce firm Alibaba Group Holding plunged as much as 10% in New York after it said Thursday that plans to spin off its cloud business were scrapped, citing uncertainties due to U.S. chip restrictions. Alibaba Chairman Joe Tsai said Thursday during an earnings call that a spinoff of its cloud unit “may not achieve …

Chinese e-commerce giant Alibaba says it will not sell shares in Ant’s buyback program
1 year, 5 months ago

Chinese e-commerce giant Alibaba says it will not sell shares in Ant’s buyback program

Associated Press  

HONG KONG — Chinese e-commerce giant Alibaba says it does not plan to sell any shares in its one-third shareholding in financial technology company Ant Group because it wants to retain its stake in an “important strategic partner.” Alibaba Group Holdings said in a filing Sunday that it will not participate in Ant’s share buyback program. Ant, which operates one …

Chinese regulators approve capital expansion for Ant Group
2 years ago

Chinese regulators approve capital expansion for Ant Group

Associated Press  

HONG KONG — Chinese regulators have said e-commerce giant Alibaba’s finance affiliate Ant Group can raise $1.5 billion for its consumer finance unit in an important step forward after the government called off a planned IPO two years ago and ordered the firm to restructure. The China Banking and Insurance Regulatory Commission in the southwestern city of Chongqing said in …

Alibaba raises buyback to $25B to boost slumping stock
2 years, 9 months ago

Alibaba raises buyback to $25B to boost slumping stock

Associated Press  

BEIJING — Alibaba Group, the world’s biggest e-commerce company, increased a share buyback to $25 billion from $15 billion on Tuesday to prop up a stock price that has fallen by more than half since the ruling Communist Party tightened control over tech industries by launching regulatory crackdowns. Alibaba’s U.S.-traded shares have fallen 56%, wiping out hundreds of billions of …

Alibaba stock slides despite strong earnings, as Ant Group IPO concerns linger
4 years, 2 months ago

Alibaba stock slides despite strong earnings, as Ant Group IPO concerns linger

CNN  

New York CNN Business — Shares of Alibaba, the Chinese e-commerce giant, fell Thursday on slowing sales growth and concerns about a delay in the initial public offering of financial tech firm Ant Group, one of its top investment holdings. Still, Thursday’s drop follows significant losses on Tuesday, when Alibaba’s stock plunged 8% after Chinese regulators suspended the planned IPO …

Ant Group’s $37-bn IPO suspended in Shanghai and Hong Kong
4 years, 2 months ago

Ant Group’s $37-bn IPO suspended in Shanghai and Hong Kong

Live Mint  

Ant Group's $37 billion listing has been suspended in both Shanghai and Hong Kong in a dramatic move just two days before what was set to be the world's largest-ever stock market debut. The Shanghai stock exchange first announced that it had suspended Ant's initial public offering on its STAR market, prompting Ant to also freeze the Hong Kong leg …

Alibaba wants to raise $13.4 billion in Hong Kong listing
5 years, 2 months ago

Alibaba wants to raise $13.4 billion in Hong Kong listing

CNN  

London CNN Business — Chinese e-commerce giant Alibaba has announced plans to raise up to $13.4 billion by issuing shares in Hong Kong, a vote of confidence in the Asian financial hub that has been rocked by months of civil unrest. Alibaba will price 500 million new shares on or around November 20, with trading starting in Hong Kong roughly …

Alibaba eyes November window for $10 bn IPO
5 years, 2 months ago

Alibaba eyes November window for $10 bn IPO

Live Mint  

Alibaba Group Holding Ltd is deciding between launching a sharply reduced $10 billion Hong Kong share sale in November or delaying the deal till next year as global uncertainty mounts, people familiar with the matter say. It can proceed with a required initial public offering hearing—either after its 1 November earnings or 11 November Singles’ Day shopping gala—or risk postponing …

Betting on themselves: Share buybacks hit record high in 3Q
6 years, 1 month ago

Betting on themselves: Share buybacks hit record high in 3Q

Associated Press  

Corporations’ appetite for buying back their own stock has hit a record high. “Companies have adopted buybacks as an option when they have excess capital and nothing better to do with it,” says Michael Schoonover, portfolio manager of the Catalyst Buyback Strategy Fund. Those that had been keeping cash overseas also got a break on the tax hit for bringing …

Discover Related