HSBC Is reportedly considering an IPO of business in Indonesia

Pedestrians pass an HSBC Holdings Plc bank branch in Hong Kong, China, on May 24, 2022. HSBC is in the midst of a pivot to Asia, shifting billions of dollars in capital and making fresh investments as it sells off and scales back unprofitable businesses in other regions. - Bloomberg

JAKARTA, May 28 (Bloomberg): HSBC Holdings Plc has been examining an initial public offering of its Indonesian business to tap buoyant investor demand in the world’s fourth-most populous country.

Plans for a share sale in Jakarta are at an advanced stage, said people familiar with the plan, asking not to be named discussing an internal matter. It has yet to file a formal IPO application but the local regulator is aware of its intention, they said.