The lender’s shares were up 0.48% as of 11:36 a.m. in London, having gained as much as 3.5% in Hong Kong, the most in over a month. They rose 1.47% in London on Friday.
HSBC Holdings Plc shares in Hong Kong rose after it emerged late Friday that the bank’s largest active investor would support a breakup of the lender on the basis that a separate Asia-listed unit would create shareholder value.
Ping An Insurance (Group) Co has held discussions with the bank on the idea of spinning off HSBC’s Asian operations and listing them separately in Hong Kong, Bloomberg News reported on Friday. The shareholder believes a spinoff would win broad investor support.
