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HSBC HOLDINGS Intends to Issue SGD800M Perpetual Subordinated Contingent Convertible Securities
Recommend 11 Positive 21 Negative 19 |
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HSBC HOLDINGS (00005.HK) announced plans to issue SGD800 million 5% Resettable Perpetual Subordinated Contingent Convertible Securities next Monday (24th). The initial conversion price is set at SGD4.6675 per share, allowing for the full conversion into around 171 million ordinary shares, representing about 0.96% of the enlarged issued share capital. Application will be made for the Securities to be admitted to the Official List and to trading on the Global Exchange Market of The Irish Stock Exchange plc trading as Euronext Dublin on or around the Issue Date. The denominations of the Securities will be SGD250,000. According to HSBC HOLDINGS, the net proceeds from the issue of the Securities are expected to be SGD792 million. AAStocks Financial News |
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