“HSBC Shareholders” Lobby Institutional Shareholders Vote to support business restructuring proposals
On April 24, 2566, Bloomberg News reported that HSBC Holdings Plc shareholders in Hong Kong are pressuring institutional shareholders to vote in favor of a proposal to restructure the business. At the annual general meeting on May 5, 2566
Activist shareholders are trying to put pressure on HSBC Holdings Plc as clashes with its largest shareholder, Ping An Insurance Group Co., intensify. Meeting on May 5th in Birmingham It will test investor support for efforts to increase the dividend and seek more information on a potential restructuring of the bank's operations in Asia.
Ken Lui, head of the “Spin Off HSBC Asia Concern Group,” has hired Alliance Advisors, a firm specializing in shareholder engagement. To help identify and contact HSBC investors, Alliance Advisors reached out to key institutional shareholders. And he arranged a meeting with 6-7 of them, with other things scheduled. He called a representative from Ping An's asset management team over the weekend. and stated that he would support him
Ping An last week called for the creation of a separately registered Asian business. Headquartered in Hong Kong,” Michael Huang, chairman of Ping An Asset Management, said they supported both resolutions in principle and hoped HSBC would be open to suggestions.
In addition to providing an update on the separation, Lui also proposed that HSBC restore its dividend and commit to paying a dividend of at least $0.51 per share each year.
Lui said he holds about 100 million Hong Kong dollars (US$12.7 million) in HSBC shares.
