Hang Seng Bank announced that both its independent financial adviser and its independent board committee have recommended that shareholders vote in favor of the privatization of the bank proposed by HSBC Holdings Plc $HSBA (+1,91%) 's proposed privatization of the bank. The proposal was deemed fair and reasonable.
Following the joint announcement on 9 October 2025, the mock document for the proposed privatization was published and dispatched. The consideration of HK$155 per share represents a premium of approximately 33.1% over the average closing price of HK$116.49 for the 30 trading days up to and including October 8, 2025 and a premium of 30.3% over the closing price of HK$119.00 on that date.
The Program Document contains notices of the Court Meeting and the General Meeting of Shareholders. These meetings will be held consecutively on January 8, 2026 at 10:30 a.m. in Hong Kong. The results of the shareholder votes will be announced on the same day.
Subject to shareholder approval and approval by the High Court of Hong Kong, the proposal is expected to become effective on January 26, 2026. Upon completion of the transaction, Hang Seng Bank's shares will be delisted from the Hong Kong Stock Exchange on January 27, 2026.
