US$27bil Asian spin-off for HSBC, says report

A breakaway: Two men at a viewing deck in Hong Kong. Many of the city’s retailers are in support of a break-up of HSBC, which has its headquarters in London. — AFP

HONG KONG: A break up of HSBC Holdings Plc’s Asian unit could unlock US$26.5bil (RM117bil), or a fifth of its current market value, according to research that could substantiate a push from its largest shareholder to overhaul the bank.

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 Consultancy Ltd said in a report.