Hong Kong's Bank of East Asia proposes $372m share buyback

Hong Kong's Bank of East Asia proposes $372m share buyback

A branch of the Bank of East Asia is seen in Singapore. REUTERS/Pablo Sanchez

Hong Kong’s Bank of East Asia Ltd said on Friday it intends to buy back 8.43% of its total issued shares worth HK$2.904 billion ($372.65 million) owned by hedge fund Elliot Investment Management’s affiliated entities.