A break up of HSBC Holdings Plc’s Asian unit could unlock $26.5 billion, or about a fifth of its current market value, according to research that could support a push from its largest shareholder to overhaul the bank, reports Bloomberg.
Two other scenarios that could benefit shareholders are for HSBC to spin off the Asian business or just its Hong Kong retail operations into partial initial public offerings, In Toto Consulting said in a report dated June 8. A disclaimer in the report showed the analysis was commissioned by “an independent third party.”
The UK’s Sunday Times said Ping An Insurance Group, HSBC’s biggest shareholder, was the firm that commissioned the In Toto report, without saying where it got the information. A spokesperson for Ping An declined to comment if it was behind the analysis.