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HSBC proposes privatisation of Hang Seng Bank
RTE.ie·2025-10-09 07:28

HSBC said today it planned to privatise Hong Kong's Hang Seng Bank in a deal worth HK106.1billion(106.1 billion (13.63 billion) after its majority-held subsidiary has come under fire for its performance and exposure to faltering property markets in the city and mainland China.HSBC will offer HK155pershareforthe36.5155 per share for the 36.5% of shares it does not already own, giving Hang Seng Bank a total valuation of 37 billion.Hang Seng Bank shares surged to as high as HK168inearlytradingbeforeretreatingtoHK168 in early trading before retreating to HK150.3 by midday, u ...