就恒生銀行有限公司的股份的交易披露 執行人員接獲依據香港《公司收購及合併守則》規則 22 作出以下的證券交易的披露： | 交易方 | 日期 | | | 有關證券的說 | 產品說明 | 交易性質 | 與衍生工具有 | 到期日或清結 | 參考價 | 已支付／已收取的 | 交易後數額（包 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | 明 | | | 關的參照證券 | 日 | | 總金額 | 括與其訂有協議 | | | | | | | | | 數目 | | | | 或達成諒解的任 | | | | | | | | | | | | | 何人士的證券） | | Morgan | 2026 | 年 1 | 月 8 | 衍生工具 | 其他類別產品 | 客戶主動利便客戶 | 80 | 2027 年 10 月 | $153.9000 | $12,312.0018 | 0 | | Stanley & | 日 | | | | | ─ 賣出 | | 11 日 | | | | | Co., | | | | 衍生工具 ...

就恒生銀行有限公司的股份的交易披露 執行人員接獲依據香港《公司收購及合併守則》規則 22 作出以下的證券交易的披露： 2026 年 1 月 9 日 透過協議安排進行私有化 | 賣出 | 1,206 | $153.9000 | 11,768,498 | 0.6283% | | --- | --- | --- | --- | --- | | 賣出 | 1,206 | $153.9000 | 11,767,292 | 0.6283% | | 賣出 | 1,206 | $153.9000 | 11,766,086 | 0.6282% | | 賣出 | 1,206 | $153.9000 | 11,764,880 | 0.6282% | | 賣出 | 10,854 | $153.9000 | 11,754,026 | 0.6276% | | 賣出 | 3,618 | $153.9000 | 11,750,408 | 0.6274% | | 賣出 | 9,648 | $153.9000 | 11,740,760 | 0.6269% | | 賣出 | 1,206 | $153.9000 | 11,739,554 | 0.6 ...

2026 年 1 月 9 日 透過協議安排進行私有化 就恒生銀行有限公司的股份的交易披露 執行人員接獲依據香港《公司收購及合併守則》規則 22 作出以下的證券交易的披露： | 交易方 | 日期 | | | | 有關證券的說 | 交易性質 | 買入／賣 | 涉及的股份 | 已支付／已收取 | 已支付或已 | 已支付或已 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | | 明 | | 出 | 總數 | 的總金額 | 收取的最高 | 收取的最低 | | | | | | | | | | | | 價（H） | 價（L） | | Merrill Lynch | 2026 | 年 | 1 月 | 8 | 普通股 | ETF 因應建立新的追蹤指數 進行對沖，當中相 | 賣出 | 69,948 | $0.0000 | $0.0000 | $0.0000 | | International | 日 | | | | | 關證券佔已發行的該類別證券少於 1%及同時 | | | | | | | | | | | | ...

2026 年 1 月 9 日 透過協議安排進行私有化 Morgan Stanley Capital Services LLC 是最終由摩根士丹利擁有的公司。 | 交易方 | 日期 | | | 有關證券的說 | 產品說明 | 交易性質 | 與衍生工具有 | | 到期日或清結 | 參考價 | 已支付／已收取 | 交易後數額（包 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | 明 | | | 關的參照證券 | | 日 | | 的總金額 | 括與其訂有協議 | | | | | | | | | 數目 | | | | | 或達成諒解的任 | | | | | | | | | | | | | | 何人士的證券） | | Morgan | 2026 | 年 1 | 月 8 | 衍生工具 | 其他類別產品 | 客戶主動利便客戶 | | 500 | 2026年 7 月31 | $153.8901 | $76,945.0500 | 0 | | Stanley | 日 | | | | | ─ 賣出 | ...

交易披露 | Delta 1 產品 | 因全屬客戶主動發出且由客戶需求帶動的買賣 | 賣出 | 81 | $12,473.1854 | $153.9899 | $153.9899 | | --- | --- | --- | --- | --- | --- | --- | | | 盤所產生的 Delta 1 產品 | | | | | | | Delta 1 產品 | 因全屬客戶主動發出且由客戶需求帶動的買賣 盤所產生的 Delta 1 產品 | 賣出 | 9,700 | $1,494,502.7553 | $154.0724 | $154.0724 | | Delta 1 產品 | 因全屬客戶主動發出且由客戶需求帶動的買賣 盤所產生的 Delta 1 產品 | 賣出 | 63 | $9,701.3664 | $153.9899 | $153.9899 | | Delta 1 產品 | 因全屬客戶主動發出且由客戶需求帶動的買賣 盤所產生的 Delta 1 產品 | 賣出 | 1,600 | $246,515.9184 | $154.0724 | $154.0724 | | Delta 1 產品 | 因全屬客戶主動 ...

2026 年 1 月 9 日 透過協議安排進行私有化 完 註： Morgan Stanley & Co., International plc 是與受要約公司有關連的第(5)類別聯繫人。 交易是為本身帳戶進行的。 Morgan Stanley & Co., International plc 是最終由摩根士丹利擁有的公司。 交易披露 就恒生銀行有限公司的股份的交易披露 執行人員接獲依據香港《公司收購及合併守則》規則 22 作出以下的證券交易的披露： | 交易方 | 日期 | | | 有關證券的 | 交易性質 | 買入／賣 | 涉及的股份 | 已支付／已收取的 | 已支付或已 | 已支付或已 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | 說明 | | 出 | 總數 | 總金額 | 收取的最高 | 收取的最低 | | | | | | | | | | | 價（H） | 價（L） | | Morgan | 2026 | 年 | 1 月 8 | 普通股 | 因全屬客戶主動發出且由客戶需求帶動的買賣 | 買入 ...

| 交易方 | 日期 | | | 有關證券的說 | 產品說明 | 交易性質 | 與衍生工具有 | | 到期日或清結 | 參考價 | 已支付／已收取 | 交易後數額（包 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | 明 | | | 關的參照證券 | | 日 | | 的總金額 | 括與其訂有協議 | | | | | | | | | 數目 | | | | | 或達成諒解的任 | | | | | | | | | | | | | | 何人士的證券） | | 高盛（亞洲） | 2026 | 年 | 1 月 8 | 衍生工具 | 其他類別產品 | 清結衍生工具合約 | 37,900 | | 2026年 9 月25 | $153.6943 | $5,825,015.2207 | 561,255 | | 有限責任公 | 日 | | | | | | | | 日 | | | | | 司代表高盛 | | | | 衍生工具 | 其他類別產品 | 訂立衍生工具合約 | 78 | | 2030 年 10 ...

Core Viewpoint - HSBC Holdings has successfully passed the privatization plan for Hang Seng Bank, which will become a wholly-owned subsidiary of HSBC by January 26, 2026, marking the end of Hang Seng Bank's 53 years of public trading since its listing in 1972 [1][2]. Group 1: Privatization Details - The privatization proposal offers HKD 155 per share, with a total cash payout of approximately HKD 106.156 billion to shareholders if the plan is executed [2]. - During the court meeting, approximately 237 million shares (85.75% of voting rights) voted in favor of the privatization, while 39.3 million shares (14.25%) voted against it. The special resolution at the shareholders' meeting received a 97.30% approval rate [2][3]. - The expected delisting of Hang Seng Bank from the Hong Kong Stock Exchange will occur on January 27, 2026, with trading expected to cease on January 14, 2026 [3][4]. Group 2: Market Context and Financials - As of January 9, 2026, Hang Seng Bank's stock price was HKD 154.3, only slightly below the proposed acquisition price of HKD 155, with a total market capitalization of HKD 289 billion (approximately RMB 258.8 billion) [4]. - Concerns have been raised regarding Hang Seng Bank's increasing credit impairment in commercial real estate loans, which reached HKD 25.012 billion as of June 30, 2025, a 26% increase from six months prior [6]. - HSBC's CEO has stated that the privatization is a strategic business decision aimed at demonstrating confidence in Hong Kong's future and is not directly related to the bank's bad debt situation [6]. Group 3: Operational Continuity - Post-privatization, Hang Seng Bank will retain its independent banking license, corporate governance, brand image, unique market positioning, and branch network as per Hong Kong banking regulations [6].

Group 1 - UBS reports that Hang Seng Bank (00011) has received a privatization proposal from HSBC Holdings (00005), which has been approved at the special meeting of Hang Seng Bank shareholders and the court meeting, with the bank set to delist on January 27 [1] - UBS anticipates that this will expedite the completion of the transaction by 4 to 5 months [1] - HSBC Holdings is expected to provide more financial details when it announces its fiscal year 2025 results on February 25 [1] Group 2 - UBS holds a more positive view on this transaction compared to the market, although it does not change the ultimate value of HSBC Holdings [1] - UBS maintains a "Neutral" rating on HSBC Holdings (HSBA.L) with a target price of £10.35 [1]

Group 1 - UBS reports that Hang Seng Bank has received a privatization proposal from HSBC, which has been approved at the special shareholders' meeting and court session, with the delisting scheduled for January 27 [1] - UBS anticipates that this will expedite the transaction completion by 4 to 5 months [1] - HSBC is expected to provide more financial details when it announces its fiscal year 2025 results on February 25 [1] Group 2 - UBS holds a more positive view on this transaction compared to the market, although it does not change the ultimate value of HSBC [1] - UBS maintains a "Neutral" rating on HSBC Holdings listed in London with a target price of £10.35 [1]