HSBC shareholders are set to vote on the first step toward a proposed restructuring of the bankincluding a potential spin-off of the lenders Asia businessat an annual general meeting on Friday (May 5) in the United Kingdom.
A growing contingent of shareholders, according to activist investor Ken Lui, have advocated for a split from the banks business in Asia. Lui says that this restructuring would unlock value, increase the banks dividends, and add more than 40% to the share price.
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Specifically, the investors will vote on Resolution 17, which would implement a quarterly strategy review of structural reforms aim…
Read the full article at: https://qz.com/shareholders-hsbc-vote-break-up-asia-business-1850404654