UBS: HANG SENG BANK's privatization plan approved by shareholders has a positive impact on HSBC HOLDINGS.

UBS issued a research report stating that HANG SENG BANK (00011) received a privatization proposal from HSBC HOLDINGS (00005), which has been approved at the HANG SENG BANK shareholder special meeting and court meeting. HANG SENG BANK will be delisted on January 27. UBS expects this to accelerate the completion time by 4 to 5 months. HSBC HOLDINGS will provide more financial details when announcing its performance for the 2025 fiscal year on February 25. UBS views this transaction more positively than the market, but it does not change the final value of HSBC HOLDINGS. UBS maintains a "neutral" rating on HSBC HOLDINGS (HSBA.L) listed in London with a target price of 10.35.