Overview

• HSBC asked Hang Seng Bank’s board to submit a privatization proposal to shareholders under Hong Kong’s Companies Ordinance.
• Under the terms, scheme shares would be canceled for HK$155 in cash per share, valuing the transaction at about HK$290.74 billion (US$37.36 billion).
• The proposal provides for the withdrawal of Hang Seng Bank’s stock exchange listing upon completion of the scheme.
• HSBC said the offer price is final and that it does not reserve the right to revise it.
• The cash consideration will be adjusted for dividends declared after the announcement date, excluding the 2025 third interim dividend, and the scheme remains subject to shareholder and statutory approvals.