HSBC Holdings (GB:HSBA) has released an update.
HSBC Holdings plc has announced the cancellation of a significant number of its ordinary shares following a share buy-back initiative. In total, 108,541,017 shares were repurchased for approximately US$907.6 million, with the latest tranche involving nearly 7.26 million shares bought back from UK and Hong Kong markets. As a result, HSBC’s issued share capital has been reduced, which may impact the stock’s market performance and shareholder value.
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