哈希游戏
热门标签

最新博彩网址(www.99cx.vip):HSBC overstated risks of proposed US$35bil spin-off, top investor Ping An thinks

时间:2周前   阅读:2   评论:1

最新博彩网址www.99cx.vip)是一个开放皇冠体育网址代理APP下载、皇冠体育网址会员APP下载、皇冠体育网址线路APP下载、皇冠体育网址登录APP下载的官方平台。最新博彩网址上线上最新博彩网址会员登录线路、最新博彩网址代理网址更新最快。最新博彩网址开放皇冠官方会员注册、皇冠官方代理开户等业务。

HONG KONG/LONDON: HSBC overstated the challenges in spinning off its Asia unit, a move which could unlock up to $35 billion for investors, when it rebuffed a proposal by Ping An Insurance Group, said a source familiar with the Chinese insurer's thinking.

HSBC, which makes the bulk of its sales and profit in Asia, came under pressure from Ping An, its biggest shareholder, in April to explore options including spinning off its mainstay Asia business to increase shareholder returns.

Details of Ping An's internal discussions come after HSBC on Aug. 1 pushed back against the Chinese investor's proposals while reporting its half-year earnings. Ping An has not confirmed or commented publicly on the break-up proposal.

HSBC said a break-up would mean a potential long-term hit to the bank's credit rating, tax bill and operating costs, and bring immediate risks in executing any spinoff or merger.

Ping An declined to comment, while a spokesperson for HSBC said the bank had nothing to add to comments made by its executives last week.

The detailed rebuttal as described by the source with knowledge of Ping An's thinking represents the investor's most detailed pushback yet of HSBC's strategy, and signals Ping An's intention to continue the dispute.

While activist investors sometimes acquire a stake in a big bank and confront management on how it is run, it is unusual for a Chinese entity such as Ping An, whose top shareholders include state-backed entities, to take such a proactive stance.

Ping An believes a spin-off would generate an additional $25-$35 billion in market value and release over $8 billion in capital, said the source, citing "external" analysis. The source declined to be identified due to the sensitivity of the matter.

,

皇冠登3出租www.hg108.vip)是皇冠(正网)接入菜宝钱包的TRC20-USDT支付系统,为皇冠代理提供专业的网上运营管理系统。皇冠登3出租系统实现注册、充值、提现、客服等全自动化功能。采用的USDT匿名支付、阅后即焚的IM客服系统,让皇冠代理的运营更轻松更安全。

,

HSBC's current market capitalisation is around $133 billion.

Responding to HSBC's argument that spinning off its Asian business will hit global synergies, the source said HSBC would remain a major shareholder of the unit after the separation and both parties could enter into cooperation agreements.

Ping An owns an 8.3% stake in HSBC, worth around $11.4 billion, according to Refinitiv data.

HSBC shares were trading up 0.35% on Thursday, while the broader market was down 0.25%.

UNDERPERFORMANCE

Asia is HSBC's biggest profit centre, with the region's share of the lender's profit rising to 69% in the first half from 64% a year ago.

The spat between HSBC and Ping An shows the challenges facing the UK lender, as it attempts to navigate geopolitical tensions between the U.S., Britain and China amid criticism from lawmakers in the West over the bank's activities in Hong Kong.

HSBC Chief Executive Noel Quinn said on Aug.1 the bank's dialogue with Ping An "has been purely around commercial issues", with no political aspect.

The source said HSBC performed better than expected in the second quarter, but almost all its revenue growth was dependent on "a phased, short-lived and uncontrollable interest rate hike cycle".

上一篇:欧博注册官网:Johor expects RM15bil investment in YTL Green Data Centre Park

下一篇:新2正网平台出租(www.hg108.vip):Nestcon signs MoU on solar PV collaboration

网友评论

  • 2022-09-19 00:15:51

    "The other clear risk...is that Russia will further slash energy supplies to Europe to try to raise the cost of supporting Ukraine and imposing sanctions," said Helima Croft, head of global commodity strategy at RBC Capital Markets.- Reuters加油,只能这么说了