HSBC Holdings (GB:HSBA) has released an update.
HSBC Holdings plc has announced the purchase and subsequent cancellation of a substantial number of its ordinary shares, signaling an ongoing stock buy-back effort that began on 1 August 2024. The latest transactions occurred on the 16th of August, with a total of approximately 5 million shares bought back from UK and Hong Kong venues at varying prices, resulting in a reduction of the company’s issued share capital. This repurchase strategy is part of HSBC’s plan to return value to shareholders and has reached a total expenditure of around US$516.5 million to date.
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