Two HSBC bank logos are displayed on an office building in Mexico City, Mexico, July 25, 2025.
Henry Romero | Reuters
HSBC said it has asked the board of Hang Seng Bank to put forward a privatization proposal to shareholders via a scheme of arrangement under Hong Kong’s Companies Ordinance.
Shares in Hang Seng Bank, a subsidiary of HSBC, would be canceled in exchange for 155 Hong Kong dollars ($19.78) apiece, valuing the bank at about HK$290.74 billion.
“One of HSBC’s strategic priorities is to grow in Hong Kong,” the bank said in its filing statement, adding that it believes it is “best positioned” to do so by strengthening the Hong Kong banking presence of both HSBC Asia Pacific and Hang Seng Bank.
Hang Seng Bank is a core regional unit for HSBC, with a substantial presence in the Hong Kong banking industry
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