HSBC Asia Pacific proposes to privatise Hang Seng Bank

HSBC Holdings Plc and The Hongkong and Shanghai Banking Corporation Limited (HSBC Asia Pacific) have announced a proposal for the privatisation of Hang Seng Bank Limited via a scheme of arrangement. This will lead to the proposed withdrawal of Hang Seng Bank shares from listing. As of December 12, 2025, HSBC Asia Pacific and HSBC Asia Pacific Concert Parties collectively held 1,210,767,762 Hang Seng Bank shares, representing approximately 64.6454% of the total, while Code Disinterested Shareholders held 662,169,774 shares, or approximately 35.3546%.

Upon the scheme becoming binding and effective, HSBC Asia Pacific is expected to hold 1,872,937,536 Hang Seng Bank shares, representing 100% of the company. Dealings in Hang Seng Bank shares on December 11 and 12, 2025, by HSBC Asia Pacific Concert Parties and the Hang Seng Bank Group included various buy and sell transactions, primarily at a price of HK$153.00, with one sell transaction at HK$152.85.

HSBC Asia Pacific also held several long positions in warrants or derivatives related to Hang Seng Bank shares, with exercise prices ranging from HK$113.20 to HK$131.676 and maturity dates in 2026. These positions represent a small fraction of the total issued share capital, with the largest being 921,000 shares, equating to 0.049%. HSBC Bank plc reported borrowing 301,687 Hang Seng Bank shares, representing 0.016% of the issued share capital.