LONDON (dpa-AFX) - Hang Seng Bank announced that both its independent financial adviser and independent board committee have recommended shareholders vote in favor of HSBC Holdings Plc's proposed privatization of the lender. The proposal has been deemed fair and reasonable.
Further to the joint announcement on 9 October 2025, the scheme document regarding the proposed privatization has been published and dispatched. The scheme consideration of HK$155 per share represents a premium of approximately 33.1% over the average closing price of HK$116.49 for the 30 trading days up to and including 8 October 2025, and a 30.3% premium over the closing price of HK$119.00 on that day.
The scheme document includes notices convening the Court Meeting and the General Meeting of shareholders. These meetings will be held sequentially on 8 January 2026 at 10:30 a.m. in Hong Kong. Results of the shareholder votes will be announced on the same day.
Subject to shareholder approval and sanction by the High Court of Hong Kong, the proposal is expected to become effective on 26 January 2026. Following completion, the listing of Hang Seng Bank shares on the Hong Kong Stock Exchange will be withdrawn on 27 January 2026.
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