HSBC Left With EU400 Million Amadeus Stake as Share Sale Flops

HSBC Left With EU400 Million Amadeus Stake as Share Sale Flops

Chris Ratcliffe/Bloomberg

On Nov. 14, HSBC Holdings Plc managed a block sale of 23.6 million shares, or a 5.3 percent stake of Amadeus, on behalf of Deutsche Lufthansa AG and Societe Generale SA, which had borrowed stock from Air-France KLM. The placing triggered HSBC’s obligations as an underwriter, the bank told the Spanish regulator, which means it had to keep stock on its books.