HSBC Buys Back Shares in the UK, Hong Kong; Shares Down 15%

MT Newswires Live
04-07

HSBC (HKG:0005) bought back a total of 6,032,500 shares in the UK and Hong Kong on April 3 and 4, according to two separate filings with the Hong Kong bourse.

Of this, the lender repurchased 2,532,500 shares in the UK and 1.6 million in Hong Kong at a volume weighted average price of 8.2538 pounds sterling and HK$87.0236 apiece, respectively, on April 3.

On April 4, 1.9 million shares were bought back by the lender in the UK at 7.576 pounds sterling apiece.

On cancellation of the shares repurchased in the UK, the firm will have an issued share capital of 17,706,815,850 ordinary shares.

Shares of the bank were down 15% in recent trade.

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