HSBC falls 3% amid reports that top shareholder Ping An is looking to trim its stake

There are several options including "further share sales, similar to the $50 million sale it disclosed last week." Ping An sold HSBC shares worth 391.49 million Hong Kong dollars ($50.19 million) on May 7, cutting its stake from 8.01% to 7.98%. The sale marked the first disposal of shares from Ping An since it backed a 2023 shareholder motion that sought to spin off its Asia business and establish fixed dividends. That motion was eventually defeated. Customers use automated teller machines (ATM) at an HSBC ...