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LONDON - Standard Chartered (LON:STAN) PLC (OTC:SCBFF) (LSE:STAN) will commence a $1.3 billion share buyback program starting Thursday, according to a press release statement issued by the bank.
The buyback will run from August 1, 2025, through January 31, 2026, with the stated purpose of reducing the bank’s share capital. Standard Chartered has appointed Goldman Sachs International to execute the purchases independently during this period.
The program allows for the repurchase of up to 194,363,280 ordinary shares, subject to the bank’s available general authority as granted by shareholders. All shares acquired through the buyback will be canceled upon completion.
Purchases will be conducted on the London Stock Exchange (LON:LSEG), Cboe Europe (through BXE and CXE order books), and potentially other UK recognized investment exchanges. The bank specified that no purchases will be made on the Stock Exchange of Hong Kong.
The buyback will be executed in accordance with UK financial regulations, including the Financial Conduct Authority’s Listing Rules and relevant EU regulations as incorporated into UK domestic law following Brexit.
This share repurchase follows Standard Chartered’s announcement earlier today regarding its financial performance, though specific details about the company’s earnings were not included in the buyback statement.
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