Latest Search
Quote
| Back Zoom + Zoom - | ||||
|
HSBC HOLDINGS CFO: Proposed Privatization of HANG SENG BANK Fairly Priced, Part of Group's Growth Investment
Recommend 29 Positive 29 Negative 18 |
||||
|
||||
|
When asked about some investors' concerns that the 30% premium for privatizing HANG SENG BANK (00011.HK) is too high, HSBC HOLDINGS (00005.HK) CFO Pam Kaur stated at the earnings press conference that this equity investment is for the group's growth and is proactively made based on commercial considerations. She believes the offer is fair and appealing for both parties, and understands that some stakeholders have concerns at this stage, but she believes that investors will gradually be reassured as the group unveils more transaction details after the offer period ends. Regarding Hong Kong's Commercial Real Estate (CRE), she pointed out that HSBC's Expected Credit Loss (ECL) for the third quarter is USD1 billion, remaining stable and similar to the second quarter. This quarter's ECL for Hong Kong CRE is also below the industry level for the same period this year. AASTOCKS Financial News Website: www.aastocks.com |
||||
Copied to Clipboard
 |
||||
