Standard Chartered Executes Share Buy-Back to Optimize Capital Structure

Standard Chartered ( (GB:STAN) ) has issued an announcement.

Standard Chartered PLC announced the purchase of 1,538,000 of its ordinary shares as part of a share buy-back program. The shares were acquired at prices ranging from 915.0000 to 942.0000 GB pence, with a volume weighted average price of 929.6235 GB pence. This move is part of the company’s strategy to manage its capital structure and enhance shareholder value. Following the cancellation of these shares, the total number of voting rights will be adjusted to 2,379,628,501, indicating a reduction in the company’s outstanding shares and potentially increasing the value of remaining shares.

More about Standard Chartered

Standard Chartered PLC is a leading international banking group, incorporated in England and Wales, with a strong presence in Asia, Africa, and the Middle East. The company provides a wide range of financial products and services, including personal and corporate banking, wealth management, and investment services, focusing on emerging markets.

YTD Price Performance: -3.76%

Average Trading Volume: 7,320

Technical Sentiment Signal: Sell

Current Market Cap: $28.45B

Learn more about STAN stock on TipRanks’ Stock Analysis page.