Alibaba expands share buy-back to a record US$25 billion amid stock price slump

Source: Tech – South China Morning PostAlibaba Group Holding, the Hangzhou-based e-commerce giant, upsized its share buy-back programme from US$15 billion to US$25 billion on Tuesday amid a plunge in its stock price. It is the largest buy-back in the tech giant’s history.The programme will run for two years through March 2024, the company said in a statement. Alibaba, which owns the South China Morning Post, had announced a US$10 billion share buy-back plan in December 2020 and expanded it to US$15 billion in August last year…Read More

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