HSBC Holdings Plc has been examining an initial public offering of its Indonesian business to tap buoyant investor demand in the world’s fourth-most populous country.
Plans for a share sale in Jakarta are at an advanced stage, said people familiar with the plan, asking not to be named discussing an internal matter. It has yet to file a formal IPO application but the local regulator is aware of its intention, they said. A spokesman for HSBC declined to comment. A spokesperson at Indonesia’s Financial Services Authority said the regulator doesn’t comment on corporate actions.