HSBC Shares Drop Following News of Stake Reduction by Ping An
Friday, 17 May 2024, 04:59
HSBC Shares Drop Amidst Stake Reduction Reports
Ping An, one of the top shareholders of HSBC, is contemplating the reduction of its stake in the company, leading to a 3% decline in HSBC's stock price.
Ping An and Shareholder Motion
Last year, Ping An had backed a shareholder proposal aimed at separating HSBC's Asia business and implementing fixed dividends.
The proposal eventually faced defeat, resulting in no changes to HSBC's structure.
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