Ant Group buys back no more than 7.6% shares from all shareholders, and Alibaba Group does not sell any shares to it.

Thanks to CTOnews.com netizens for the delivery of clues about the past. CTOnews.com July 24 news, Alibaba issued an announcement last night that he had received notice from Ant Technology Group Co., Ltd., a non-consolidated related party with a 33% stake, that Ant Group had held a general meeting on July 23, 2023, and its shareholders had approved (among other things) Ant Group's proposal to buy back no more than 7.6% of its shares from all its shareholders.

In view of the fact that Ant Group continues to be an important strategic partner of several businesses of Alibaba Group, Alibaba Group has decided not to sell any shares to Ant Group in this proposed buyback in order to maintain its stake in Ant Group.

Previously on CTOnews.com:

Ant Group disclosed on July 8 that in order to supplement the employee incentive pool to continue to attract talent, and to further meet the liquidity needs of shareholders, it will buy back some of the shares of existing shareholders with its own funds, accounting for no more than 7.6% of the total share capital.

The plan shows that the price of Ant Group's buyback corresponds to the company's valuation of about 567.1 billion yuan, which is about 40% lower than the 2018 C round financing valuation (about 960 billion yuan). 7.6% of the shares are about 43.1 billion yuan.