Hang Seng Bank's Independent Panel Endorses HSBC's Privatization Initiative Following Board Acceptance

Hang Seng Bank has disclosed that its independent financial adviser and the independent board committee have both endorsed the acquisition proposal put forward by HSBC Holdings Plc to take the bank private. The initiative has been assessed as fair and reasonable based on comprehensive evaluation. Building on the joint communication released on 9 October 2025, the acquisition documentation has now been circulated to stakeholders. The proposed consideration stands at HK$155 per share, representing a 33.1% premium relative to the average closing price of HK$116.49 calculated over the 30 trading sessions concluding on 8 October 2025. This also translates to a 30.3% uplift compared to the closing price of HK$119.00 recorded on the same date.

The acquisition documentation contains formal notices summoning the Court Meeting and the General Meeting to facilitate shareholder participation. Both meetings are scheduled for sequential holding on 8 January 2026, commencing at 10:30 a.m. Hong Kong time. The outcomes of the voting procedures will be publicly disclosed later that same day. Upon securing shareholder consent and obtaining the sanction of the High Court of Hong Kong, the transaction is projected to complete on 26 January 2026. Once the transaction concludes, Hang Seng Bank shares will be removed from the listing of the Hong Kong Stock Exchange on 27 January 2026. The perspectives presented here represent the viewpoint of the contributor and should not be construed as reflecting the official position of Nasdaq, Inc.