HSBC Buys Back 3.1M Shares from Morgan Stanley
Ticker: HBCYF · Form: 6-K · Filed: Dec 10, 2024 · CIK: 1089113
Sentiment: neutral
Topics: share-buyback, capital-return, transaction
Related Tickers: HSBC
TL;DR
HSBC just bought back 3.1M shares from Morgan Stanley as part of its ongoing buyback program.
AI Summary
HSBC Holdings plc announced on December 10, 2024, that it purchased 3,130,466 of its ordinary shares for cancellation from Morgan Stanley & Co. International plc. This transaction is part of a previously announced buy-back program initiated on October 30, 2024. The shares were purchased on UK venues at prices ranging from £7.4790 to £7.5170 per share.
Why It Matters
This share buyback indicates HSBC's commitment to returning capital to shareholders and can signal confidence in the company's valuation.
Risk Assessment
Risk Level: low — The filing is a routine disclosure of share repurchases and does not present new material risks.
Key Numbers
- 3,130,466 — Shares Purchased (Represents a portion of HSBC's ongoing share buyback program.)
- £7.5170 — Highest Price Per Share (Indicates the upper limit of the price paid for the repurchased shares.)
- £7.4790 — Lowest Price Per Share (Indicates the lower limit of the price paid for the repurchased shares.)
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
- 3,130,466 (dollar_amount) — Number of ordinary shares purchased
- October 30, 2024 (date) — Date the buy-back program was announced
- December 10, 2024 (date) — Date of the share purchase
- £7.5170 (dollar_amount) — Highest price paid per share
- £7.4790 (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, but states 3,130,466 shares were purchased at prices between £7.4790 and £7.5170.
Is this share purchase part of a larger buyback program?
Yes, the filing explicitly states this purchase is 'as part of its buy-back announced on 30 October 2024'.
What type of shares were purchased?
Ordinary shares of US$0.50 each were purchased.
Where were these shares purchased?
The shares were purchased on UK Venues.
What is the purpose of these share purchases?
The shares were purchased 'for cancellation', indicating a reduction in the total number of outstanding shares.
Filing Stats: 660 words · 3 min read · ~2 pages · Grade level 10.8 · Accepted 2024-12-10 12:48:03
Key Financial Figures
- $0.50 — wing number of its ordinary shares of US$0.50 from Morgan Stanley & Co. Internat
- $74.7500 — 800 Highest price paid per share: HK$74.7500 Lowest price paid per share: HK$74.
- $74.2000 — 7500 Lowest price paid per share: HK$74.2000 Volume weighted average price paid pe
- $74.5370 — ghted average price paid per share: HK$74.5370   All repurchases on The Stock
- $1,553.4m — total consideration of approximately US$1,553.4m.   Following the cancellation
Filing Documents
- a5728p.htm (6-K) — 22KB
- 0001654954-24-015348.txt ( ) — 23KB
From the Filing
IN OWN SHARES a5728p 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 December   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   10 December 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: 10 December 2024 Number of ordinary shares of US$0.50 each purchased: 3,130,466 Highest price paid per share: £7.5170 Lowest price paid per share: £7.4790 Volume weighted average price paid per share: £7.5038   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: 10 December 2024 Number of ordinary shares of US$0.50 each purchased: 308,800 Highest price paid per share: HK$74.7500 Lowest price paid per share: HK$74.2000 Volume weighted average price paid per share: HK$74.5370   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 169,454,705 ordinary shares for a total consideration of approximately US$1,553.4m.   Following the cancellation of the shares repurchased on the UK Venues, the Company's issued ordinary share capital will consist of 17,992,413,047 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 17,992,413,047 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/5722P_1-2024-12-10.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: 10 December 2024