Alibaba Repurchased 414 Million Ordinary Shares in Q3

Alibaba Announces Major Share Repurchase Program

Alibaba (NYSE: BABA) has made a significant move in its share repurchase initiative, buying back 414 million ordinary shares, which corresponds to 52 million American Depositary Shares (ADS), for a total of $4.1 billion during the third quarter ending September 30, 2024. The repurchase occurred in both U.S. and Hong Kong markets.

As of September 30, 2024, Alibaba had successfully reduced its outstanding shares by 2.1% compared to June 30, 2024. The current total of ordinary shares stands at 18.62 billion, or 2.33 billion ADS. This reduction of 405 million shares accounts for adjustments made for shares issued under the company’s Employee Stock Ownership Plan (ESOP).

Additionally, Alibaba reported that it had $22.0 billion remaining in its repurchase program as of September 30, 2024.