Alibaba Confirms Major Share Accumulation by Jack Ma and Blue Pool Fund, Stock Soars
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.
Sign in with google
