Meanwhile, the city’s Hang Seng Index has soared 31%, well on course for its best annual performance since 2017, which it finished with a 36% gain.
This year was already a fertile one for dealmakers in Hong Kong leading into Thursday. Then came HSBC Holdings with its proposed US$14 billion buyout of Hang Seng Bank to really put a rocket under things.
HSBC’s offer — buy the 37% of Hang Seng Bank it doesn’t own already — pushes this year’s potential volume of deals such as mergers and acquisitions involving companies in Hong Kong to US$74 billion, a roughly 40% jump from the same period a year ago, data compiled by Bloomberg show.
