Source: China – South China Morning PostHSBC Holdings said it would privatise its Hang Seng Bank subsidiary, drawing the curtains on half a century of the unit’s publicly traded status amid worsening real estate loans in Hong Kong.
HSBC offered to buy all outstanding Hang Seng Bank shares for HK$155 (US$19.92) each in cash, or a premium of 30 per cent over the bank’s Wednesday closing price of HK$119, according to a statement to the Hong Kong stock exchange on Thursday morning. The Hang Seng shares would be cancelled after the…Read More