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HONG KONG - HSBC Holdings plc (HK:0005) and The Hongkong and Shanghai Banking Corporation Limited (HSBC Asia Pacific) announced Thursday that they are progressing with the privatisation of Hang Seng Bank Limited (HK:0011).
According to the joint announcement, the companies are preparing and finalizing information to be included in the Scheme Document related to the privatisation proposal first announced on October 9, 2025. They are also preparing for a hearing at the High Court to seek directions for convening the Hang Seng Bank Court Meeting where shareholders will consider the scheme.
The Scheme Document, which will contain a detailed timetable for the privatisation proposal, is expected to be dispatched to shareholders on or before December 17, 2025.
The privatisation will be implemented through a scheme of arrangement under section 673 of the Companies Ordinance. If successful, it will result in the withdrawal of Hang Seng Bank shares from listing on the Hong Kong Stock Exchange.
The companies cautioned that the proposal will only be implemented if all conditions are satisfied or waived before the Conditions Long Stop Date, advising shareholders and potential investors to exercise caution when dealing in securities of HSBC Holdings and Hang Seng Bank.
BofA Securities and Goldman Sachs are serving as joint financial advisers to HSBC Holdings and HSBC Asia Pacific, while Morgan Stanley is advising Hang Seng Bank on the transaction.
The announcement notes that further updates on the status and progress of the proposal will be made in accordance with the Takeovers Code, Hong Kong Listing Rules and applicable laws and regulations.
This article is based on a press release statement from the companies involved.
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