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HSBA Hsbc Holdings Plc

663.60
1.70 (0.26%)
26 Apr 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Hsbc Holdings Plc LSE:HSBA London Ordinary Share GB0005405286 ORD $0.50 (UK REG)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  1.70 0.26% 663.60 663.70 663.80 665.80 661.10 663.10 15,524,054 16:35:22
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Offices-bank Holding Company 65.91B 23.53B 1.2338 22.65 533.13B

HSBC's Case Against Spinoff Doesn't Convince Largest Shareholder Ping An, Bloomberg Reports

11/08/2022 2:48pm

Dow Jones News


Hsbc (LSE:HSBA)
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--Ping An Insurance Group Co. hasn't been swayed by HSBC Holdings PLC's arguments against a proposed split of its Asia operations, saying the bank requires urgent and radical change, Bloomberg reports, citing an unnamed source.

--According to Ping An's estimates, the spinoff is expected to generate additional market value of $25 billion to $35 billion, release $8 billion in capital requirements, and save on headquarter and infrastructure costs, the person said, Bloomberg reports.

--Moreover, in the insurer's view, a spinoff wouldn't affect the cross-border wholesale banking revenues that HSBC says are at risk from any split, according to Bloomberg. Ping An's stance highlights the continuing chasm between HSBC and its largest shareholder, it says.

 

Full story: https://bloom.bg/3vXrpZ9

 

Write to Nihad Ahmed at nihad.ahmed@wsj.com

 

(END) Dow Jones Newswires

August 11, 2022 09:33 ET (13:33 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.

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