HSBC May Sell 30% Stake in U.K. Retail Bank in IPO, FT Reports
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HSBC Holdings Plc may sell a stake in its U.K. retail and commercial bank on the stock exchange to ease the effect of new regulations, the Financial Times reported, citing people it didn’t identify.
HSBC could sell as much as 30 percent of the subsidiary, which may have a total value of 20 billion pounds ($32.7 billion), the newspaper said, giving a 6 billion-pound valuation for the holding. HSBC has been asking investors whether they would support the plan, and has discussed it informally at the board level, the Financial Times reported.