HSBC · HSBC Holdings plc
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Canceled shares leave each remaining share with a slightly larger claim on HSBC. The program also uses company cash, but the story reports no other change to HSBC’s business.
HSBC will buy back and cancel 770,000 of its own shares as part of its ongoing program.
Good for HSBC
HSBC canceled 770,000 shares, giving each remaining share a slightly larger ownership slice. The program has used about US$39.7 million in cash so far, but the reported share reduction supports existing owners.
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