According to the announcement by HSBC Holdings (00005) via the financial news app, just as stated in the announcement on October 29, 2024, they will initiate a repurchase of up to 3 billion US dollars for ordinary shares with a face value of 0.5 US dollars each, aiming to reduce the number of issued ordinary shares of HSBC.

HSBC and Morgan Stanley & Co. International plc ("Morgan Stanley") have entered into several irrevocable non-discretionary repurchase agreements. These agreements allow Morgan Stanley (as the principal party) to purchase up to a total value of 3 billion US dollars of ordinary shares between October 31, 2024, and no later than February 14, 2025 (subject to regulatory approval still being valid), and simultaneously sell the relevant shares to HSBC.

Morgan Stanley will make transaction decisions independently of HSBC regarding the repurchases. The purchase of ordinary shares will take place on the London Stock Exchange, Aquis Exchange, Cboe Europe Limited (via BXE and CXE trading order books), and/or Turquoise (referred to as "UK locations"), and/or the Hong Kong Stock Exchange.

The ordinary shares repurchased will be canceled. The maximum number of ordinary shares that can be repurchased is approximately 1.217 billion shares, which is based on the number of ordinary shares authorized for repurchase under that authorization after deducting the number of shares already repurchased by the company to date in 2024.