这个10月，10月9日，汇丰控股、 汇丰亚太与恒生银行（00011.HK）发布联合公告，宣布汇丰控股的全 资附属公司汇丰亚太作为要约人，拟以协议安排方式将恒生银行私有化。 汇丰亚太方面给出的私有化建议为每股计划股份提供155港元的现金代价，较恒生银行于香港联交所包 括最后交易日前的30个交易日所报平均收市价每股116.5港元溢价约33%。 1972年，恒生银行在香港交易所上市，截至公告刊发之时，恒生银行已发行股份共计18.76亿股，其中 6.85亿股将构成计划股份。 汇丰亚太将根据建议向计划股东以现金支付的总额约为1062亿港元。 汇丰控股称，鉴于准备计划文件所需的时间，以及高等法院就计划程序，在条件达成(或如适用，获豁 免)的前提下，预计建议将于2026年上半年完成实施。 齐鲁晚报·齐鲁壹点 王赟 去年10月，汇丰控股（00005.HK）在港交所发布公告称，正在简化组织架构为四大业务，以加快推行 优先策略。 倘若建议获批准及实施，恒生银行将成为汇丰控股全资附属公司。 另外，恒生银行表示：内地业务运作不会因私有化有任何改变。 ...

Core Viewpoint - HSBC has proposed to privatize Hang Seng Bank with over HKD 106.1 billion in cash, marking the largest transaction for HSBC in decades [2] Group 1: Transaction Details - HSBC submitted a privatization offer to Hang Seng Bank's board in early September, and the deal was facilitated within about four weeks [2] - The advisory teams worked tirelessly, including during the Mid-Autumn Festival, and the offer was revised three times [2] - The internal negotiations at HSBC were codenamed "Pearl," while Hang Seng Bank's executives referred to the discussions as "Bauhinia" [2] Group 2: Strategic Considerations - The negotiations began months prior, with Morgan Stanley advising Hang Seng Bank and Goldman Sachs and Bank of America advising HSBC [2] - HSBC's CEO, Georges Elhedery, stated that the privatization proposal was well-prepared over a long period, involving collaboration with the board, regulators, and industry experts [2] - The proposal has received support from Hang Seng Bank's board and is described as a strategic decision based on commercial considerations for long-term development [2]

Core Viewpoint - Citigroup's report indicates that HSBC Holdings announced plans to acquire a 37% minority stake in Hang Seng Bank at a price reflecting a 30% premium and a price-to-book ratio of 1.8 times [1] Group 1: Acquisition Details - The acquisition is expected to impact HSBC's capital by 125 basis points, with the funding coming from a suspension of stock buybacks for three quarters [1] - The acquisition premium is considered substantial, especially as Hang Seng Bank's stock price has risen by 24% over the past 12 months [1] Group 2: Strategic Implications - The move reflects the new management's strategic priorities under CEO Noel Quinn, focusing on restructuring HSBC according to a new business framework [1] - The strategy emphasizes a focus on Hong Kong and the UK, as well as Corporate and Investment Banking (CIB) and Individual Wealth Management (IWPB) [1] - The management is also advancing a cost-cutting plan and strategic asset disposals, which are progressing steadily [1]

恒生银行(00011)发布公告，将于2025年11月13日派发2025年度第三次中期股息每股1.3港元。 ...

智通财经APP讯，恒生银行(00011)发布公告，将于2025年11月13日派发2025年度第三次中期股息每股 1.3港元。 ...

EF001 發行人所發行上市權證/可轉換債券 不適用 其他信息 恒生銀行有限公司（「本行」）董事會今天宣佈，派發截至2025年12月31日止年度之第三次中期股息每股港幣1.30元。是期股息 將於2025年11月13日（星期四）派發予於2025年10月27日（星期一）名列本行股東名冊內之股東。 是期股息不應被視為本行全年溢利或全年股息金額之指標。 免責聲明 | 公告全部或任何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 | 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因 | | --- | --- | | | 股票發行人現金股息公告 | | 發行人名稱 | 恒生銀行有限公司 | | 股份代號 | 00011 | | 多櫃檯股份代號及貨幣 | 80011 RMB | | 相關股份代號及名稱 | 不適用 | | 公告標題 | 2025年度第三次中期股息 | | 公告日期 | 2025年10月10日 | | 公告狀態 | 新公告 | | 股息信息 | | | 股息類型 | 第三季度 | | 股息性質 | 普通股息 | | ...

Core Viewpoint - UBS reports that HSBC intends to acquire the remaining 36.5% stake in Hang Seng Bank at HKD 155 per share, which represents a significant 30% premium over Hang Seng's last closing price, implying a price-to-book ratio of 1.8 times for the fiscal year 2025 [1] Group 1: Acquisition Details - The acquisition proposal will not affect Hang Seng Bank's status as an independent licensed bank but will enhance coordination between HSBC and Hang Seng, leading to mid-term revenue and cost synergies [1] - UBS has assigned a "Sell" rating to Hang Seng Bank with a target price of HKD 102 [1] - Following the announcement, Hang Seng's stock price surged by 26% on October 9, indicating potential upside if the transaction proceeds smoothly [1] Group 2: Expected Outcomes - UBS anticipates that the potential revenue and cost synergies will positively impact HSBC in the mid-term, improving Hang Seng's efficiency and competitive positioning [1] - The privatization proposal is expected to be completed in the first half of 2026, pending approval from at least 75% of minority shareholders [1] - According to the Hong Kong Stock Exchange, there are no other significant shareholders besides HSBC, and the minority shareholding appears to be highly dispersed, primarily held by passive funds [1] Group 3: Regulatory Considerations - There has been no discussion regarding the regulatory stance on the privatization transaction, but UBS believes HSBC has sufficient reasons to expect no significant regulatory obstacles [1]

瑞银指出，正如分析师电话会议所强调，潜在的收入及成本协同效应，预计将在中期对汇丰产生正面影 响;相信此举将提升恒生的效率及竞争定位，同时提升汇丰对高回报的香港本地市场和快速增长的国际 财富管理业务中的份额。 瑞银表示，私有化提案料于2026年上半年完成，须获少数股东至少75%投票权批准。根据港交所(00388) 股权披露，除汇丰外无其他重大股东。少数股权似乎高度分散，主要由被动型基金组成。除少数股东投 票外，尚未讨论监管机构对私有化交易的立场。瑞银认为，汇丰银行有充分理由相信不会有任何重大监 管障碍。 智通财经APP获悉，瑞银发布研报称，汇丰银行(00005)宣布有意以每股155港元，连同第三期中期股息 收购恒生银行(00011)剩余36.5%股权。此要约较恒生银行最后收市价提供显著30%溢价，并隐含2025财 年1.8倍市账率。根据公司表示，私有化不会影响恒生银行作为独立授权持牌银行的地位，但将加强汇 丰与恒生银行之间的协调，从而带来中期收入及成本协同效应。瑞银予恒生银行评级"沽售"，目标价 102港元。消息公布后，恒生昨日(10月9日)股价急升26%，瑞银相信若交易顺利进行，股价存在上行空 间。 ...

Core Viewpoint - UBS reports that HSBC Holdings (00005) has proposed to privatize Hang Seng Bank (00011) at HKD 155 per share, with HSBC believing there will be no significant regulatory obstacles to the acquisition [1] Group 1: Financial Impact - If the acquisition is successful, HSBC's Common Equity Tier 1 (CET1) capital ratio is expected to decrease by 125 basis points [1] - HSBC anticipates restoring the CET1 ratio to a target range of 14%-14.5% through organic growth, and plans to suspend share buybacks for the next three quarters while maintaining a 50% payout ratio based on underlying earnings for 2025 [1] - The CET1 ratio for HSBC was 14.6% in Q2 of this year, and the bank expects the transaction to enhance earnings per share, although no additional financial data regarding the transaction has been provided [1] Group 2: Operational Perspective - From a customer standpoint, Hang Seng Bank will continue to operate under its existing model [1] - UBS previously expressed concerns regarding provisions for commercial real estate loans at Hang Seng Bank, but now believes that increasing exposure to this high Return on Tangible Equity (ROTE) market while reducing internal operational complexity is a correct strategy [1]

公告显示，恒生银行植根香港近百年，有着深厚的传统。汇丰十分尊重恒生银行的独特地位，计划继续 透过汇丰及恒生银行两大品牌，服务香港市场。因此，恒生银行将保留其根据香港银行业条例所独立获 授的持牌银行认可，并维持独立的企业管治、品牌形象、独特的市场定位，以及分行网络。此外，汇丰 深知恒生银行在本地社区所担当的重要角色，并将继续支持恒生银行长期参与的社区项目。 10月9日，汇丰控股发布公告称，汇丰亚太作为要约人，已要求恒生银行董事会向计划股东提呈建议， 根据公司条例第673条以协议安排方式将恒生银行私有化。倘若计划生效，计划股份将予以注销，以换 取计划对价，即持有每股计划股份可获现金港币155.00元（扣除股息调整金额，如有）。 截至本公告刊发之时，恒生银行已发行股份共计18.76亿股，其中6.85亿股将构成计划股份。根据每股计 划股份港币155.00元的计划对价，并假设根据恒生银行股份回购计划回购且截至本公告刊发之时仍待注 销的280万股恒生银行股份将于计划文件发布时或之前注销；及假设自本公告刊发之时起至计划记录日 期（包括当日）恒生银行股份数量不再发生变动且并无任何股息调整金额：建议对恒生银行的全部已发 行股本 ...