Standard Chartered Advances Share Buy-back, Plans Cancellation of Repurchased Shares
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Standard Chartered PLC has advanced its share buy-back program, repurchasing 840,847 ordinary shares at an average price of 1,737.95 pence. The bank has spent approximately US$733.3 million on buy-backs and plans to cancel the repurchased shares, reducing the total shares in issue to 2,220,013,391. This move is part of the bank's capital management strategy, aimed at enhancing earnings per share and demonstrating financial strength to shareholders and the market.
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