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HSBC Investor Starts Group to Rally Support for Ping An Plan

  • Investor starts group to push for spinoff of Asia business
  • Pressure mounts in HSBC ahead of meeting with HK shareholders
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An activist HSBC Holdings Plc shareholder in Hong Kong is convening a group to push for the spinoff of the lender’s Asia business, adding to pressure on the London-based bank ahead of a meeting with investors in the Asian financial hub on Tuesday. 

Ken Lui, the shareholder and founder of the Hong Kong Investor and Entrepreneur Institute, is seeking to build on an effort from 2020 when he gathered about 3,000 local investors to protest HSBC’s move to stop paying dividends as the Coronavirus erupted. “We are trying to engage the same group of people and also, of course, we welcome new shareholders as well,” he said.