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Financial Services

Staff Reporter

, Hong Kong

Published:

7 months ago

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Photo by orderinchaos via Wikimedia Commons. Apart from cropping the photo, no other edits were made. Source: https://commons.wikimedia.org/wiki/File:Hang_Seng_bank_sign_from_Des_Voeux_2011.jpg

Hang Seng Bank announced HK$3b share buyback programme

Independent broker Merril Lynch will execute all buybacks.

Hang Seng Bank (HSB) is buying back HK$3b of its shares from the Hong Kong stock exchange.

In a press release, HSB announced that it has has entered into an agreement with the broker Merril Lynch International for the the Automatic Share Buy-back Programme, which will run between 10 April to 9 September 2024.

HSB said that it will comply with the listing rules, the codes on takeovers and mergers and share buybacks (the “Takeovers Code”), the companies ordinance, the SFO and all other applicable laws and regulations for the buy-back of shares.

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HSB reminded shareholders and potential investors that any share buy-back under the programme will be subject to prevailing market conditions and the broker's sole discretion within the predetermined parameters of the programme.

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