Alibaba Group Holding Ltd. boosted its share buyback program to $25 billion from $15 billion, in a bid to reassure buyers in regards to the firm’s prospects after a yr during which its inventory has fallen by greater than half.
The potential buybacks are substantial in contrast with the Chinese language e-commerce big’s market worth: As of Monday, it had a market capitalization of about $270 billion, in keeping with FactSet.