Standard Chartered ( (GB:STAN) ) has issued an announcement.
Standard Chartered PLC has announced a share buy-back program with a maximum aggregate amount of $1.5 billion. This initiative aims to reduce the company’s share capital, and it will involve purchasing up to 250 million ordinary shares through J.P. Morgan Securities plc as the principal agent. The buy-back process will occur on recognized UK investment exchanges and adhere to regulatory frameworks, with the purchased shares being canceled. This move is likely to impact the company’s capital management and could influence its market positioning, potentially offering value to shareholders by enhancing share value and signaling confidence in the company’s financial health.
More about Standard Chartered
Standard Chartered PLC is an international banking group incorporated in England and Wales. The company provides a wide range of financial services and products, particularly focusing on commercial and personal banking, wealth management, and corporate finance. It operates mainly in Asia, Africa, and the Middle East, positioning itself as a key player in emerging markets.
YTD Price Performance: 24.30%
Average Trading Volume: 5,282
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $36.18B
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