Yahoo! (YHOO) to Sell Fewer Shares in Alibaba (BABA) IPO
"We are pleased to announce today that we have entered into an amendment to the share repurchase agreement with Alibaba, reducing the number of shares that Yahoo is required to sell at the IPO from 208 million shares to 140 million shares. In addition, we are aware that there has been much discussion around the allocation of the Alibaba IPO proceeds,”"said Ken Goldman, CFO of Yahoo. "We would like to take this opportunity to let our investors know that we are committed to return at least half of the after-tax IPO proceeds to shareholders, in line with our overarching commitment to maximizing shareholder value through prudent capital allocation."
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Barrick Gold (ABX) Tops Q3 EPS by 4c
- Deltic Timber Corp. (DEL) Reports Q3 EPS of $0.12
- Videocon d2h Limited (VDTH) Reports Q4 EPS of INR0.32
Create E-mail Alert Related CategoriesIPOs, Trader Talk
Related EntitiesStock Buyback, Earnings, IPO
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!