Back on the 9th October, Hang Seng Bank (11 HK) announced an Offer from controlling parent, HSBC Holdings (5 HK), by way of a Scheme.
HSBC offered HK$155/share, a 30.3% premium to last close. The price was final. A third interim dividend was bolted on. Optically - and fundamentally - the price was bang on.
The Scheme Doc is now out, with the Court Meeting on the 8th January 2026. Payment around 4th Feb. The IFA, in a bare-bones report, concluded “fair & reasonable”.
The Trade:
Safe deal. This is effectively a term deposit hybrid.
If not in, this is one to pick up on a (unlikely) wobble.