Core Viewpoint - HSBC Holdings announced a plan to privatize Hang Seng Bank for HKD 106 billion, with commitments to invest billions in customer service, technology, and private wealth development over the coming years [1] Group 1: Privatization Details - HSBC Holdings will retain Hang Seng Bank as an independent licensed bank post-privatization, maintaining its management, brand, and branch network [1] - The Hong Kong Financial Secretary stated that the government was informed prior to the announcement and that there are no plans for layoffs [1] Group 2: Future Prospects - Analysts suggest that the privatization may create opportunities for HSBC to conduct capital operations in the future [1] - If business synergies between Hang Seng Bank and HSBC lead to unexpected performance growth, there is potential for HSBC to consider a future spin-off of Hang Seng Bank for capital appreciation [1]

Core Viewpoint - HSBC Holdings announced a plan to privatize Hang Seng Bank for HKD 106 billion, with commitments to invest billions in customer service, technology, and private wealth development over the coming years [1] Group 1: HSBC Holdings and Hang Seng Bank - The Hong Kong Financial Secretary stated that HSBC informed the Hong Kong government prior to the announcement of the privatization plan [1] - HSBC will retain Hang Seng Bank as an independent licensed bank post-privatization, maintaining its management, brand, and branch network [1] - Analysts suggest that this move may create opportunities for HSBC to conduct capital operations in the future, potentially leading to a spin-off listing of Hang Seng Bank if business synergies and performance exceed expectations [1]

Group 1 - HSBC Holdings announced a plan to privatize Hang Seng Bank for HKD 106 billion [2] - The Financial Secretary of Hong Kong, Paul Chan, stated that HSBC informed the government prior to the announcement and committed to investing billions in the coming years [2] - Investments will focus on customer service, technology, and the development of private wealth business [2] Group 2 - Paul Chan mentioned that there are no plans for layoffs as a result of the privatization [2] - HSBC's CEO, Georges Elhedery, emphasized the commitment to maintaining headcount in Hong Kong during previous interviews [2] - There are currently no plans for the sale of Hang Seng Bank after the privatization, as it is a decision for the bank to make [2]

Core Insights - HSBC has committed to not laying off employees during the proposed privatization of Hang Seng Bank, as stated by Hong Kong's Financial Secretary [1] Investment Plans - HSBC plans to make significant investments amounting to several billion dollars in Hong Kong and the region during the privatization process, focusing on customer service, technology, and the development of private wealth business [1]

2025 年 10 月 16 日 就恒生銀行有限公司的股份的交易披露 交易是為本身帳戶進行的。 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： MSHK on behalf of MSAP 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 | 交易性質 | 買入／賣出 | 涉及的股份 | 已支付／已 | 已支付或已 | 已支付或已 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | 明 | | | 總數 | 收取的總金 | 收取的最高 | 收取的最低 | | | | | | | | | | 額 | 價（H） | 價（L） | | MSHK on | 2025 | 年 | 10 月 | 衍生權證 | 在要約期前，獲香港聯合交易所有限公司認可為 | 買入 | 40,000 | $400.0000 | $0.0100 | $0.0100 | | behalf of | 15 | 日 | | | 指定莊家的獲豁免自營買賣商，就既有的衍生工 | | ...

2025 年 10 月 16 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 | 產品說明 | 交易性質 | | | 到期日或清結 | 參考價 | 已支付／已收取 | 交易後數額（包 | | | 與衍生工具有 | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | 明 | | | 關的參照證券 | | 日 | | 的總金額 | 括與其訂有協議 | | | | | | | | | | | | | | | | | | 或達成諒解的任 | | | 數目 | | | | | | | | | | | | | | | 何人士的證券） | | | | | | | Morgan | 2025 | 10 | 衍生工具 | 其他類別產品 | 客戶主動利便客戶 | | 100 | 2026 年 10 | $151. ...

2025 年 10 月 16 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 | 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 | 2025 | 年 | 10 月 | 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 | 63,800 | $9,656,732.0000 | $151.8000 | $151.0000 | | Stanley & | 15 日 | | | | 盤所產生的 Delta 1 產品的對沖活動 | | | | | | | Co., | | | | 普通股 | 因全屬客 ...

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： 2025 年 10 月 16 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 完 註： 高盛（亞洲）有限責任公司代表高盛集團有限公司與其相關聯機構是與要約人有關連的獲豁免自營買賣商。 交易是為本身帳戶進行的。 | 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） | | | | | | | | | | | | 高盛（亞洲） | 2025 | 年 | 10 | 月 | 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 | 96,706 | $14,632,943.2000 | $151.8000 | $151.0000 | | 有限責 ...

2025 年 10 月 16 日 透過協議安排進行私有化 就 Hang Seng Bank Limited 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 | | | 買入／賣出 | | 股份數目 每股價格 交易後數額（包括與其訂有 佔該類別證券的百分比（包 | | | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | | | 協議或達成諒解的任何人士 括與其訂有協議或達成諒解 | | | | | | | | 的證券） | 的任何人士的證券）% | | | HSBC Global Asset | 2025 | 年 10 | 月 | 賣出 | | 31,900 $151.8000 1,358,933 | 0.0690% | | Management (UK) | 15 日 | | | 買入 | | 1,440 $151.7972 1,360,373 | 0.0690% | | Limited | | | | | | | | 完 註： HSBC Global Asset Ma ...

註： Merrill Lynch International 是與要約人有關連的獲豁免自營買賣商。 交易是為本身帳戶進行的。 交易披露 交易披露 2025 年 10 月 16 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 | 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） | | Merrill Lynch | 2025 | 年 | 10 月 | 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 | 10,600 | $1,603,950.0000 | $151.8000 | $151.0000 | | Inte ...