Alibaba Confirms Major Share Accumulation by Jack Ma and Blue Pool Fund, Stock Soars
Alibaba has been one of the Chinese internet companies that has been most aggressively repurchasing its shares in the past year.
In a recent 13F filing on the U.S. Securities and Exchange Commission's website, it was revealed that Blue Pool, the family fund of Tsai Chung-hsin, has augmented its holdings of Alibaba shares by $150 million. Furthermore, Alibaba's founder, Jack Ma, has been significantly bolstering his stake in the company, a move that starkly contradicts previous rumors of him divesting from Alibaba.
Alibaba confirmed this news on the evening of January 23, which coincided with a surge of over 6% in the company's pre-market shares in the U.S.
Alibaba has been one of the Chinese internet companies that most aggressively repurchasing its shares in the past year. In 2023, the company repurchased a total of 897.9 million ordinary shares (equivalent to 112.2 million American depositary shares) for a total of $9.5 billion. As of December 31, 2023, under the board of directors' authorized share repurchase plan, Alibaba still retains a repurchase allowance of $11.7 billion, which is valid through March 2025.
