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HSBC HOLDINGS' $100B Privatization Proposal for HANG SENG BANK to be Voted on This Morning; Minority Shareholders Express Reluctance
Recommend 21 Positive 31 Negative 36 |
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HANG SENG BANK (00011.HK) will convene a court meeting and a shareholders' meeting today (8th) to vote on HSBC HOLDINGS (00005.HK)'s privatization proposal. The voting results will be unveiled on the same day. Mr. Ho, a minority shareholder of HANG SENG BANK at the scene, expressed disinclination with the privatization offer. He wished to hold shares at HK$160-170 for dividends, while however supporting the resolution given HSBC HOLDINGS' 60% stake in HANG SENG BANK. Another minority shareholder, Mr. Kwok, said that he has held HANG SENG BANK's shares for decades and feels reluctant about the privatization, worrying about HSBC HOLDINGS' commitment to HANG SENG BANK's brand independence. On the other hand, some minority shareholders who have held HANG SENG BANK's shares since its listing hope the privatization proposal will pass, and they will consider buying other high-dividend bank stocks after cashing out. AASTOCKS Financial News Website: www.aastocks.com |
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