HANGZHOU, China – (BUSINESS THREAD) – Alibaba Group Holding Limited (NYSE: BABA and HKEX: 9988, the “Company”) today announced that the Board of Directors of the Company has been authorized to increase the Company’s share repurchase program from US $ 6 billion to US $ 10 billion (the “Share Repurchase Program”). This Share Repurchase Program is in effect for a period of two years until the end of 2022. The Company began implementing its Share Repurchase Program this quarter.
About Alibaba Group
Alibaba Group’s mission is to make it easy to do business anywhere. The company intends to build the future infrastructure of the trade. It envisages that its customers will meet, work and live in Alibaba, and that it will be a good business lasting 102 years.