Alibaba repurchased 524 million shares in Q1 2024, totaling $4.8 billion

April 2, 2024 Alibaba (BABA) give update on it’s share buyback

In the first quarter of 2024, under our share repurchase program, we bought back a total of 524 million ordinary shares, equivalent to 65 million ADSs, worth US$4.8 billion. These repurchases were conducted in the U.S. and Hong Kong markets. This buyback activity escalated over the fiscal year, with a total of 1,249 million ordinary shares, or 156 million ADSs, repurchased for US$12.5 billion.

By March 31, 2024, our outstanding ordinary shares stood at 19,469 million, equating to 2,434 million ADSs. This marked a net reduction of 520 million ordinary shares from December 2023, which amounts to a 2.6% decline in our outstanding shares after factoring in shares issued under our Employee Stock Ownership Plan (ESOP). For the full fiscal year ended March 31, 2024, the share repurchase scheme led to a net reduction of 1,057 million ordinary shares, corresponding to a 5.1% reduction in outstanding shares once ESOP-issued shares are considered.

A table further detailing historical repurchases and the overall decrease in total outstanding shares is included in the report.

As of March 31, 2024, the board confirmed that US$31.9 billion remains of the authorized funds for our share repurchase program, which is set to remain in effect until March 2027.