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HSBC HOLDINGS Proposes Privatization of HANG SENG BANK at $155/ Shr; Vote Slated for 8 Jan
Recommend 27 Positive 49 Negative 29 |
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HSBC HOLDINGS (00005.HK) and HANG SENG BANK (00011.HK) jointly announced that the Scheme Document of the proposal for the privatisation of Hang Seng Bank by HSBC Asia Pacific by way of a scheme of arrangement under section 673 of the Companies Ordinance will be despatched. The Hang Seng Bank Court Meeting and the Hang Seng Bank General Meeting will be held at 10:30 a.m. on 8 January 2026. The Scheme Consideration of HK$155 per Scheme Share represents a premium of approximately 33.1% over the average closing price of HK$116.49 per Hang Seng Bank Share as quoted on the Hong Kong Stock Exchange over the last 30 trading days up to and including 8 October 2025, being the last trading day before the Joint Announcement of the Proposal; and a premium of approximately 30.3% over the closing price of HK$119 per Hang Seng Bank Share as quoted on the Hong Kong Stock Exchange on the Last Trading Day. Upon obtaining approval from Hang Seng Bank shareholders and recognition from the Hong Kong High Court, the proposal is expected to take effect on 26 January 2026. Subsequently, the listing of the Hang Seng Bank Shares on the Hong Kong Stock Exchange is expected to be withdrawn at 4:00 p.m. on 27 January 2026. The transaction will be completed on the same day. AASTOCKS Financial News Website: www.aastocks.com |
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