<article><a style="color: #000080;" href="http://www.dealstreetasia.com/?s=Alibaba+Group+Holding+Ltd">Alibaba Group Holding Ltd</a> said on Monday Chairman Jack Ma and Vice Chairman Joe Tsai have agreed to buy back a combined $500 million in company shares, part of a $4 billion stock repurchase scheme announced in August.</article>

<a style="color: #000080;" href="http://www.dealstreetasia.com/?s=Alibaba+Group+Holding+Ltd">Alibaba Group Holding Ltd</a> said on Monday Chairman Jack Ma and Vice Chairman Joe Tsai have agreed to buy back a combined $500 million in company shares, part of a $4 billion stock repurchase scheme announced in August.
The buyback comes as the e-commerce firm&#8217;s shares languish at $66.91, more than a dollar off their IPO price of $68, and as it struggles with slowing growth and a gloomy outlook for the Chinese economy.
Sina News reported that Ma and Tsai had signed an agreement to use their private funds to repurchase shares worth $500 million. An Alibaba spokesman confirmed the news but declined to give details.
In August, Alibaba announced the $4 billion share repurchase programme which would take place over two years and was aimed at offsetting the impact of its share-based compensation programmes.
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Reuters

Alibaba Group Holding Ltd said Chairman Jack Ma & Vice Chairman Joe Tsai have agreed to buy back combined $500 million in company shares.

Alibaba's Ma, Tsai to buy back $500m in shares

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Alibaba's Ma, Tsai to buy back $500m in shares

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