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HSBC To Commence US$2 Bln Share Buy-back

Asia-focused lender HSBC Holdings Plc (HSBC,HSBA.L) said it will commence a share buy-back of HSBC's ordinary shares of US$0.50 each for up to a maximum consideration of US$2 billion. The maximum number of ordinary shares that may be repurchased under the buy-back is 2.04 billion Shares.

HSBC noted that it has entered into an agreement with Morgan Stanley & Co. International plc to enable the purchase of Ordinary Shares by Morgan Stanley acting as principal, during the period running from 26 October 2021 and ending no later than 20 April 2022, for an aggregate purchase price of up to US$2 billion and the simultaneous on-sale of such ordinary shares by Morgan Stanley to HSBC.

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