Hsbc Holdings Plc (UK) (GB:HSBA) has released an update.
HSBC Holdings PLC has continued its share buy-back program, purchasing and cancelling a significant number of shares on both the UK and Hong Kong stock exchanges, with a total spend of approximately US$1.857.9 million since the program’s announcement. Following the buy-back, HSBC’s issued share capital will be reduced, but it will still consist of over 18 billion ordinary shares with voting rights. The move is part of the company’s strategy to return value to shareholders and manage its capital efficiently.
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