HSBC proposes to privatise Hang Seng Bank for $37.36 billion

Core Viewpoint - HSBC has initiated a request for the board of Hang Seng Bank to present a privatisation proposal to shareholders, utilizing a scheme of arrangement under Hong Kong's Companies Ordinance [1] Group 1 - HSBC is seeking to privatize Hang Seng Bank, indicating a strategic move to consolidate its operations and potentially enhance shareholder value [1] - The proposal will be submitted to shareholders, suggesting that the decision will ultimately rest with them [1] - The process will follow the legal framework established by Hong Kong's Companies Ordinance, ensuring compliance with local regulations [1]