HSBC Holdings said it would privatise its Hang Seng Bank subsidiary, drawing the curtains on half a century of the unit’s publicly traded status amid worsening real estate loans in Hong Kong.
HSBC offered to buy all outstanding Hang Seng Bank shares for HK$155 (US$19.92) each in cash, or a premium of 30 per cent over the bank’s Wednesday closing price of HK$119, according to a statement to the Hong Kong stock exchange on Thursday morning. The Hang Seng shares would be cancelled after the…HSBC Holdings said it would privatise its Hang Seng Bank subsidiary, drawing the curtains on half a century of the unit’s publicly traded status amid worsening real estate loans in Hong Kong.
HSBC offered to buy all outstanding Hang Seng Bank shares for HK$155 (US$19.92) each in cash, or a premium of 30 per cent over the bank’s Wednesday closing price of HK$119, according to a statement to the Hong Kong stock exchange on Thursday morning. The Hang Seng shares would be cancelled after the…  Read More ​Business – South China Morning Post