Business

Alibaba Group increases share repurchase programme to US$10 billion

Alibaba Group Holding Ltd said on Sunday its board has authorized an increase in the company's share repurchase programme to US$10 billion from US$6 billion.

FILE PHOTO: Alibaba's 11.11 Singles' Day global shopping festival
FILE PHOTO: The Alibaba Group logo is seen during the company's 11.11 Singles' Day global shopping festival at their headquarters in Hangzhou, Zhejiang province, China, November 11, 2020. REUTERS/Aly Song

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REUTERS: Alibaba Group Holding Ltd said on Sunday its board has authorized an increase in the company's share repurchase programme to US$10 billion from US$6 billion.

"This Share Repurchase Program will be effective for a two-year period through the end of 2022," Alibaba said in a statement https://bwnews.pr/38IF0r7 late on Sunday.

(Reporting by Kanishka Singh in Bengaluru; Editing by Tom Hogue)

Source: Reuters