HSBC Buys Back 8.1M Shares from Morgan Stanley
Ticker: HBCYF · Form: 6-K · Filed: Nov 13, 2024 · CIK: 1089113
Sentiment: neutral
Topics: share-buyback, capital-return, transaction
Related Tickers: HSBC
TL;DR
HSBC just bought back 8.1M shares from Morgan Stanley as part of its ongoing buyback program.
AI Summary
HSBC Holdings plc announced on November 13, 2024, that it purchased 8,145,877 of its ordinary shares for cancellation from Morgan Stanley & Co. International plc. This transaction is part of a buy-back program initially announced on October 30, 2024. The shares were purchased on UK venues at prices ranging from £6.9630 to £7.0000 per share.
Why It Matters
This share repurchase indicates HSBC is actively managing its capital structure and returning value to shareholders, potentially boosting earnings per share.
Risk Assessment
Risk Level: low — The filing is a routine disclosure of share repurchases, which is a common and expected corporate action.
Key Numbers
- 8,145,877 — Shares Purchased (Represents a portion of HSBC's ongoing share buy-back program.)
- £7.0000 — Highest Price Paid (Indicates the upper limit of the price paid for shares in this transaction.)
- £6.9630 — Lowest Price Paid (Indicates the lower limit of the price paid for shares in this transaction.)
Key Players & Entities
- HSBC Holdings plc (company) — Company making the announcement and repurchasing shares
- Morgan Stanley & Co. International plc (company) — Seller of the shares to HSBC
- 8,145,877 (dollar_amount) — Number of ordinary shares purchased
- 30 October 2024 (date) — Date of the initial buy-back announcement
- 13 November 2024 (date) — Date of the share purchase
- £7.0000 (dollar_amount) — Highest price paid per share
- £6.9630 (dollar_amount) — Lowest price paid per share
FAQ
What is the total value of the shares purchased from Morgan Stanley?
The filing does not provide the total value, only the number of shares (8,145,877) and the price range (£6.9630 to £7.0000 per share).
When was the buy-back program initially announced?
The buy-back program was announced on October 30, 2024.
Who was the counterparty for this specific share purchase?
The shares were purchased from Morgan Stanley & Co. International plc.
What is the denomination of the shares purchased?
The shares purchased were ordinary shares of US$0.50 each.
Where did the share purchases take place?
The share purchases took place on UK Venues.
Filing Stats: 659 words · 3 min read · ~2 pages · Grade level 10.9 · Accepted 2024-11-13 12:41:29
Key Financial Figures
- $0.50 — wing number of its ordinary shares of US$0.50 from Morgan Stanley & Co. Internat
- $69.5500 — A0; Highest price paid per share: HK$69.5500  Lowest price paid per share:
- $68.8500 — xA0; Lowest price paid per share: HK$68.8500  Volume weighted average price p
- $69.3428 — ghted average price paid per share: HK$69.3428    All repurchases on The
- $763.5m — total consideration of approximately US$763.5m.   Following the cancellation
Filing Documents
- a1518m.htm (6-K) — 22KB
- 0001654954-24-014237.txt ( ) — 23KB
From the Filing
IN OWN SHARES a1518m FORM 6-K   SECURITIES AND EXCHANGE COMMISSION   Washington, D.C. 20549       Report of Foreign Private Issuer   Pursuant to Rule 13a - 16 or 15d - 16 of   the Securities Exchange Act of 1934       For the month of November   HSBC Holdings plc   42nd Floor, 8 Canada Square, London E14 5HQ, England   (Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F).   Form 20-F X Form 40-F         HSBC HOLDINGS PLC   13 November 2024   Transaction in own shares   HSBC Holdings plc (" HSBC " or the " Company ") announces that it has purchased for cancellation the following number of its ordinary shares of US$0.50 from Morgan Stanley & Co. International plc (" Morgan Stanley ") as part of its buy-back announced on 30 October 2024.   UK Venues   Date of purchase: 13 November 2024 Number of ordinary shares of US$0.50 each purchased: 8,145,877  Highest price paid per share: £7.0000  Lowest price paid per share: £6.9630  Volume weighted average price paid per share: £6.9833    All repurchases on the London Stock Exchange, Aquis Exchange, Cboe Europe Limited (through the BXE and CXE order books) and/or Turquoise (" UK Venues ") are implemented as "on Exchange" transactions (as such term is defined in the rules of the London Stock Exchange) and as "market purchases" for the purposes of the Companies Act 2006.   Hong Kong Stock Exchange   Date of purchase: 13 November 2024 Number of ordinary shares of US$0.50 each purchased: 4,214,400  Highest price paid per share: HK$69.5500  Lowest price paid per share: HK$68.8500  Volume weighted average price paid per share: HK$69.3428    All repurchases on The Stock Exchange of Hong Kong Limited (" Hong Kong Stock Exchange ") are "off market" for the purposes of the Companies Act 2006 but are transactions which occur "on Exchange" for the purposes of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited and which constitute an "on-market share buy-back" for the purposes of the Codes on Takeovers and Mergers and Share Buy-backs.   Since the commencement of the buy-back announced on 30 October 2024, the Company has repurchased 83,592,555 ordinary shares for a total consideration of approximately US$763.5m.   Following the cancellation of the shares repurchased on the UK Venues, the Company's issued ordinary share capital will consist of 18,096,252,397 ordinary shares with voting rights. There are no ordinary shares held in treasury. Cancellation of the shares repurchased on the Hong Kong Stock Exchange takes longer than those repurchased on the UK Venues and a further announcement of total voting rights will be made once those shares have been cancelled.   The above figure of 18,096,252,397 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.   In accordance with Article 5(1)(b) of the Market Abuse Regulation (EU) No 596/2014 (as it forms part of domestic law of the United Kingdom by virtue of the European Union (Withdrawal) Act 2018, as amended), a full breakdown of the individual trades made by Morgan Stanley on behalf of the Company is available via the link below.   http://www.rns-pdf.londonstockexchange.com/rns/1506M_1-2024-11-13.pdf   This announcement will also be available on HSBC's website at  www.hsbc.com/sea   Enquiries to:   Lee Davis Corporate Governance & Secretariat shareholderquestions@hsbc.com +44 (0)20 7991 8888   SIGNATURE   Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.       HSBC Holdings plc       By:   Name: Aileen Taylor   Title: Group Company Secretary and Chief Governance Officer       Date: 13 November 2024