HSBC makes £10bn bet on Hong Kong as ‘super-connector’ for China and west
Deal will see Hang Seng Bank’s shares taken off local stock exchange as HSBC doubles down on its Asian business
HSBC is shelling out £10bn to take its Hong Kong subsidiary private, in a move it said was designed to take advantage of the financial hub’s role as a “super-connector” between China and global markets.
The deal will result in Hang Seng Bank’s shares being taken off the local stock exchange as London-headquartered HSBC doubles down on its Asian business and snaps up the 36.5% of shares it does not already own.
