CME says all CME Group markets open and trading following outage
HONG KONG - HSBC Holdings plc announced Thursday that its subsidiary, The Hongkong and Shanghai Banking Corporation Limited (HSBC Asia Pacific), has secured necessary regulatory consents from the Hong Kong Securities and Futures Commission’s Executive under the Takeovers Code for its proposed privatization of Hang Seng Bank Limited.
The consents relate to certain restrictions that would normally apply to HSBC during the offer period regarding dealings in Hang Seng Bank securities. The Executive has granted several exemptions allowing HSBC to continue specific ordinary business activities without triggering additional regulatory requirements.
These exemptions cover structured products-related activities, indemnities under the bank’s Agency Lending Programme, market making activities for exchange traded funds, passive index-tracking fund management, and dealings as executor and trustee of deceased estates.
The regulatory approvals specifically exempt HSBC from requirements including 24-hour public notice prior to certain sales of Hang Seng Bank securities and confirm that specific transactions will not affect the minimum consideration level required for the privatization proposal.
The privatization plan, first announced on October 9, 2025, involves HSBC Asia Pacific acquiring Hang Seng Bank through a scheme of arrangement under Section 673 of the Companies Ordinance.
HSBC noted that it may seek additional consents from regulators for other ordinary course dealings in Hang Seng Bank securities depending on business needs and specific circumstances.
The announcement, based on a company press release statement, represents a procedural step in HSBC’s ongoing effort to privatize Hang Seng Bank, in which it already holds a significant stake.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.