HSBC Receives Backing from Hang Seng Bank's Independent Board Committee for Privatization Proposal
AI Summary1 min read
TL;DR
HSBC's privatization plan gains support from Hang Seng Bank's independent board committee. The proposal involves Ping An Insurance reducing its stake and will be voted on at the 2023 AGM.
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Hsbc Holdings
HSBC Holdings has received support from Hang Seng Bank's independent board committee for its privatization proposal. The proposal aims to restructure the bank's ownership structure, with the bank's controlling shareholder, Ping An Insurance Group, reducing its stake in HSBC. The proposal is expected to be put to a vote at the bank's annual general meeting in 2023.
