Reported Earlier, Alibaba Said That It Will Not Participate In Affiliate Ant Group's Share Buyback Program; Buyback Plan Values The Fintech Giant, Ant, At A Nearly 70% Discount From Its Proposed Initial Public Offering Price In 2020
Portfolio Pulse from Happy Mohamed
Alibaba has announced that it will not participate in affiliate Ant Group's share buyback program. The buyback plan values Ant Group at a nearly 70% discount from its proposed IPO price in 2020. Alibaba has decided not to sell any shares to maintain its shareholding in Ant Group.
July 24, 2023 | 2:41 pm
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Alibaba's decision to not participate in Ant Group's share buyback program could be seen as a vote of confidence in Ant's future prospects, potentially having a positive impact on Alibaba's stock.
Alibaba's decision to maintain its shareholding in Ant Group, despite the latter's discounted valuation, suggests that Alibaba sees long-term value in Ant. This could boost investor confidence in Alibaba, potentially leading to a short-term increase in its stock price.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100