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Shi10c2c4@90800·Jul 14

On July 9, Alibaba issued an announcement on the Hong Kong Stock Exchange. Alibaba Group received a notice from Ant Technology Group Co., Ltd., a non-consolidated related party that holds 33% of its shares. Ant Group will hold a general meeting of shareholders to approve ( Among other things) Ant Group's proposal to repurchase up to 7.6% of its shares from all its shareholders. The proposed share repurchase price represents Ant Group's valuation of approximately RMB 567.1 billion (approximately US$78.48 billion). It is understood that the shares repurchased this time will be transferred to Ant Group’s employee incentive plan. Alibaba Group is considering whether to participate in the proposed share repurchase.

Post by @90800.lens
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    Shi10c2c4@90800·Jul 14

    Previously (July 8), Ant Group disclosed that in order to supplement the employee incentive pool to continue to attract talents, and to further meet shareholders’ demand for liquidity, it will use its own funds to repurchase some of the shares of existing shareholders. The repurchase ratio Not more than 7.6% of the total share capital. Relevant matters have been approved by the board of directors of Ant Group and submitted to the general meeting of shareholders for consideration.

    According to the repurchase plan, the price of Ant Group’s repurchase this time corresponds to the company’s valuation of about 567.1 billion yuan, which is about 40% lower than the valuation of the C round of financing in 2018 (about 960 billion yuan).

    Ant said that the use of repurchased shares to supplement the employee incentive pool will help to better attract outstanding talents and improve the company's ability to use technology to serve finance and the real economy.

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