HSBC Holdings (00005) suggests privatizing Hang Seng Bank (00011) and delisting it. The Hong Kong Monetary Authority responds: the approval will be regulated and reviewed according to established procedures.

On October 9, HSBC HOLDINGS (00005) announced its plan to privatize HANG SENG BANK (00011) through an agreement arrangement and delist HANG SENG BANK. According to HSBC's statement, the price per share is 155 Hong Kong dollars, a 30% premium compared to HANG SENG BANK's closing price the previous day. HSBC also explicitly stated that there will be no further increase in the price. In response to this, the Hong Kong Monetary Authority stated that they are aware of the plan and are in communication with the relevant banks to supervise and approve the transaction according to established mechanisms and procedures. The Monetary Authority pointed out that HSBC HOLDINGS has indicated that this transaction is a significant investment in Hong Kong, and after the completion of the transaction, both Hongkong and Shanghai Banking Corporation and HANG SENG BANK will continue to operate as two independent recognized financial institutions. The Monetary Authority emphasized that they will continue to maintain close communication with relevant institutions in order to ensure the smooth progress of the transaction and uphold the stability of the Hong Kong financial market. If the transaction is ultimately completed, it will signify an important turning point for HANG SENG BANK in the Hong Kong capital market, and further strengthen the business integration and development of HSBC HOLDINGS in Hong Kong and the Asia-Pacific region.