HSBC (NYSE:HBC) Conforms Discussion to Sell $9B Stake in China – HBC, SAN, CS, UBS, LYG

Europe’s largest bank HSBC Holdings plc (NYSE:HBC), declared on Monday that it is in talks to sell its 15.6% stake in Chinese insurer Ping An.

The bank reported that in a brief statement on Monday that it confirms the discussion but did not mention the other party. HSBC’s stake in Ping An would be valued around $9.3B based on the current share price.

HSBC declared that from time to time it has been move toward about its stake in China’s second largest insurer. It reported that the discussions may or may not lead to a sale.

The sale gossips are part of a broader push by the bank to lift up profitability. Its three-year reformation plan also involves selling or closing underperforming businesses.

HSBC Holdings plc (ADR) (NYSE:HBC) opened at $48.89 with 3.68 billion outstanding shares and touch its highest price of $49.30 of the day and then finished at $49.30 by scoring +3.25%, as in the whole session stocks gain volume of 3.29 million shares which is higher than its average volume.

As the owner ship concerns stock institutional ownership remained 2.90% while insider ownership included 0.27%. The share capital of HBC has 3.68 billion outstanding shares amid them 3.67 billion shares have been floated in market.

For investors focus on the performance of the stocks so the HBC showed weekly ahead performance of 2.52% which was maintained for the month at 0.24%. Correspondingly the positive performance for the quarter was remained 11.16% and if took notice on yearly performance that was 35.85% whereas the year to date performance halted at 35.40%.

As the moving toward the returns measures returns on Investment ratio is significant measure which investor should have in consideration, the HBC return on equity was recorded as 7.70% as compare to its rivals has Banco Santander, S.A. (ADR) (NYSE:SAN)’s ROE 8.90%, Credit Suisse Group AG (ADR) (NYSE:CS)’s ROE 0.47%, UBS AG (USA) (NYSE:UBS)’s ROE 5.08%, Lloyds Banking Group PLC (ADR) (NYSE:LYG)’s ROE -2.20%.

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Published by Steve Hackney

Steve Hackney is a corporate finance professional with over 14 years of experience in cash management and investing. He earned a Bachelor of Science in Finance from Florida State University and holds a Certified Treasury Professional certification. Steve lives in Orlando, Florida with his family.