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Standard Chartered has announced that it will commence buying-back ordinary shares of $0.50 each, for up to a maximum of $250 million.
The purpose of the buy-back is to reduce the group's outstanding ordinary shares, according to the company.
The Group has entered into an agreement with J.P. Morgan Securities plc to enable the purchase of ordinary shares by JPM Securities.
The buyback is for an aggregate purchase price of up to, but no greater than, $250 million and the on-sale of shares by JPM Securities to the Group.