The Bank of East Asia, Limited (SEHK:23) commences an Equity Buyback for 267,501,728 shares, representing 10% of its issued share capital, under the authorization approved on May 11, 2023.

The Bank of East Asia, Limited (SEHK:23) commences share repurchases on May 11, 2023, under the program mandated by the shareholders in the Annual General Meeting held on May 11, 2023. As per the mandate, the company is authorized to repurchase up to 267,501,728 shares, representing 10% of its issued share capital. The repurchase program will be funded out of funds legally available for the purpose in accordance with the Articles of Association and the laws of Hong Kong.

The authority shall expire at the earliest of the next Annual General Meeting, the date on which the next Annual General Meeting is required to be held or the date on which the authority is varied or revoked in a General Meeting. As at May 11, 2023, the company has 2,675,017,284 shares in issue.