Alibaba Hikes Share Buyback Size To Record $25 Billion
NDTV
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.
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 plan comes amid a tech stock rally in the past few days after Chinese Vice Premier Liu He said that Beijing will roll out more measures to boost the economy as well as favourable policy steps for capital markets.
This is the second time Alibaba Group Holding Ltd has expanded its buyback programme in a year. It had hiked the programme from $10 billion to $15 billion last August.
Shares of the company have cratered more than 50% in the past year.
