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HSBC offers $13.6B to privatize Hang Seng Bank at a 30% premium, pending approval.
HSBC has proposed to privatize Hang Seng Bank in a $13.6 billion deal, offering HK$155 per share—a 30% premium—for the 36.5% of shares it doesn’t own, valuing the bank at $37 billion.
The transaction, which requires shareholder and regulatory approval, aims to streamline operations, reduce listing costs, and improve governance.
Hang Seng’s shares rose 26%, while HSBC’s stock fell 6.5% amid the announcement.
The move reflects HSBC’s confidence in Hong Kong’s financial future despite rising bad loans linked to property markets.
The deal is final and non-revocable, with no intention to raise the offer.
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HSBC ofrece $ 13.6B para privatizar Hang Seng Bank con una prima del 30%, a la espera de la aprobación.