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HSBC Sets Timeline for $1 Billion Share Buyback

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HSBC Holdings' (HKG:0005) $1 billion share buyback program announced on Tuesday will run from Aug. 6 through Oct. 23, according to a Hong Kong bourse filing on Wednesday.

The bank appointed BNP Paribas Financial Markets to execute the buyback independently on its behalf across trading venues in London and Hong Kong. Repurchased shares will be cancelled.

HSBC said up to 1.72 billion ordinary shares may be repurchased under the program, subject to the previously approved shareholder authorization.

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