9th May 2018 09:29
LONDON (Alliance News) - HSBC Holdings PLC said Wednesday that it has commenced the share buyback programme announced last week.
The FTSE 100-listed bank will repurchase ordinary shares for up to USD2 billion in order to reduce the current number of shares on the market. The repurchased shares will then be cancelled.
The buyback will start with effect from Wednesday and will carry on until the end of October 2018.
Credit Suisse will act as principal in the buyback.
HSBC shares traded at 716.10 pence early Wednesday, up 0.8%.
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