Financial News
Written by: Xu Shihao
2020-12-11 09:55
Last update date: 2020-12-11 09:55
HSBC Holdings (0005) announced that it plans to issue perpetual subordinated contingent convertible securities worth US$1.5 billion on December 17 at an interest rate of 4.6%.
The company intends to use the net proceeds from the sale of related securities of US$1.485 billion to redeem preferred shares and American depositary shares, and use the net balance for general corporate affairs, and further strengthen the company's capital base in accordance with EU regulations.
In the event of automatic conversion, assuming that the relevant securities are fully converted at their initial conversion price of US$3.5878 per share, the relevant securities will be converted into approximately 418 million ordinary shares, accounting for approximately 1.98% of the enlarged share capital.
Bank of England is about to resume some dividends
The Bank of England announced that it will allow major British banks, including HSBC (0005), Standard Chartered (2888) and Barclays to resume partial dividends and bonuses, provided that these banks have sufficient capital to effectively combat market fluctuations caused by the new crown epidemic.
HSBC Du Jiaqi