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HSBC Buys Back Shares in Hong Kong, Over 2 Million Shares Repurchased. HSBC Holdings (HSBA) repurchased 2,164,800 shares in Hong Kong on Wednesday at a weighted average price of HK$67.22 per share, according to a Thursday filing with the Hong Kong Stock Exchange. This recent buyback is part of HSBC’s ongoing share repurchase program.
Since the commencement of its buyback initiative, HSBC has repurchased a total of 325,120,399 shares, amounting to approximately $2.84 billion. The buyback program is a strategic move by HSBC to enhance shareholder value and manage its capital efficiently.
Upon the cancellation of these repurchased shares in the UK, HSBC’s total ordinary shares will amount to about 18,518,135,661. This reduction in the number of outstanding shares is expected to improve the bank’s earnings per share and return on equity, benefiting long-term shareholders.
HSBC’s continued share buyback reflects its strong financial position and commitment to returning capital to its shareholders. This strategy aligns with the bank’s broader objectives of maintaining robust financial health and delivering sustainable returns. HSBC Buys Back Shares in Hong Kong, Over 2 Million Shares Repurchased.
The market’s response to HSBC’s share repurchase has been positive, reflecting investor confidence in the bank’s financial strategies and future prospects. As HSBC progresses with its buyback program, it continues to reinforce its commitment to enhancing shareholder value and maintaining financial stability.
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