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Hang Seng Bank ( (HK:0011) ) has issued an announcement.
Hang Seng Bank Limited has announced a proposal for its privatization by The Hongkong and Shanghai Banking Corporation Limited through a scheme of arrangement. The bank has received relevant consents and confirmations from the Executive under the Takeovers Code, allowing certain dealings in its securities by passive index-tracking funds without breaching takeover rules. This move is significant for the bank’s operations and its stakeholders as it navigates regulatory requirements during the privatization process.
The most recent analyst rating on (HK:0011) stock is a Buy with a HK$98.70 price target. To see the full list of analyst forecasts on Hang Seng Bank stock, see the HK:0011 Stock Forecast page.
More about Hang Seng Bank
Hang Seng Bank Limited operates in the financial services industry, providing a range of banking and financial products and services. It is a subsidiary of HSBC Holdings plc, with a market focus on banking operations in Hong Kong and the Asia Pacific region.
Average Trading Volume: 3,544,112
Technical Sentiment Signal: Buy
Current Market Cap: HK$284.7B
For an in-depth examination of 0011 stock, go to TipRanks’ Overview page.