热门标签

欧博allbet平台:HSBC overstated risks of proposed US$35bil spin-off, top investor Ping An thinks

时间:2个月前   阅读:5   评论:2

免费足球推荐www.ad168.vip)是国内最权威的足球赛事报道、预测平台。免费提供赛事直播,免费足球贴士,免费足球推介,免费专家贴士,免费足球推荐,最专业的足球心水网。

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.

,

欧博allbet平台www.aLLbet8.vip)是欧博集团的官方网站。欧博allbet平台开放Allbet注册、Allbe代理、Allbet电脑客户端、Allbet手机版下载等业务。

,

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:usdt接口:Public Mutual declares RM198mil distributions for 11 funds

下一篇:ERC换TRC:看球迷争论有感,沃尔科特的优势是跑位+速度吧?

网友评论

  • 2022-11-21 00:14:17

    重点对比博格巴和杰拉德、亚亚·图雷,也是这个思路。杰拉德在贝尼特斯执教的6年,利物浦的阵容什么样,英超球迷都清楚。亚亚刚到曼城时,阵容也不比曼联。但杰拉德能拽着利物浦进欧冠决赛并打响夺冠的第一枪,又在足总杯决赛惊天远射扳平,为球队争得互射点球的机会;亚亚能在足总杯半决赛进球淘汰曼联,且是随后两夺英超的绝对主力,这才是英雄。杰拉德和亚亚的6个赛季,真实地反映了为什么他俩是世界级,得到球迷的爱戴,同行的尊重(见下表)。有才啊

  • 2022-12-03 00:10:24

      随着供应链及物流逐步打通,以及一系列企业扶持措施逐步落地,企业的经营压力有所改善。国家稳增长政策加码,市场最关注的是平台经济健康发展。另外,政策亦提出要稳定增加汽车、家电等大宗消费,对汽车及新能源板块带来较大提振。来了来了我来了