Wedding of the century
Article Abstract:
The inner reserves of the Hongkong and Shanghai Banking Corp (HSBC) were revealed prior to its merger with Britain's Midland Bank PLC. Reserves total HK$25.3 billion, composed of HK$16.6 billion in cash, HK$6.7 billion in unrealised investment gains and HK$2 billion in revalued property. Combined with transfers to inner reserves of HK$3.5 billion, true group profits in 1991 total HK$10.3 billion. The HSBC has named an offer price of 3.1 billion liras, or 378p a share, for Midland Bank shares. Since the bid is financed by about 75% of HSBC paper, the offer fluctuates with HSBC's share prices.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1992
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Facing the China risk
Article Abstract:
Hong Kong has a healthy capital market. The potential return of the colony by the UK to the Chinese in 1997 poses big challenges. China is still in the throes of economic takeoff and Hong Kong may have to prepare for a massive investment of funds into the former. The subsequent development of China's securities markets would require Hong Kong to explore all means of developing financial instruments and regulatory policies.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1992
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