HSBC completes US$1 billion share buyback program

HSBC (0005) said it completed its US$1 billion (HK$7.8 billion) share buyback program after repurchasing 911,000 shares in Hong Kong for cancellation yesterday.

The purchase price ranged from HK$158 to HK$160.7 per share, with a volume-weighted average price of HK$159.5951, involving nearly HK$150 million.

The bank noted that since launching the share buybacks on August 5, it has repurchased 31.736 million ordinary shares in the UK at a volume-weighted average price of £15.1909 (HK$157.89), and 16.922 million shares on the Hong Kong Stock Exchange at a volume-weighted average price of HK$161.2887.

Across the two markets, the total number of shares bought back came to 48.657 million, at a total cost of US$1 billion.

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