Alibaba repurchased US$1.3 billion shares last quarter

Chinese tech giant Alibaba (9988) said it repurchased a total of 119 million ordinary shares (equivalent to 15 million ADSs) for a total of US$1.3 billion (HK$10.14 billion) last quarter.

The buy-back led to a net decrease of 103 million shares, or 0.6 percent in outstanding shares as of the end of last year, according to a filing yesterday.

The remaining amount of the share repurchase program, effective through March 2027, was US$20.7 billion as of the end of December.

Its shares dropped by over 1 percent in Hong Kong trading hours today.