Yahoo! (YHOO) to Sell Fewer Shares in Alibaba (BABA) IPO

July 15, 2014 4:15 PM EDT

In addition to earnings, Yahoo! (NASDAQ: YHOO) said the number of shares it will sell in the Alibaba (NYSE: BABA) IPO was reduded from 208 million shares to 140 million shares

"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 Premium Free!

You May Also Be Interested In

Related Categories

IPOs, Trader Talk

Related Entities

Stock Buyback, Earnings, IPO

Add Your Comment