HSBC’s plans to take Hong Kong’s Hang Seng private backed by board committee

HSBC’s plans to take its Hong-Kong-listed business Hang Seng private have taken a step forward (Mike Egerton/PA) - (PA Wire)

HSBC’s plans to take its Hong-Kong-listed business Hang Seng private have taken a step forward after winning the approval of a board committee.

The independent committee, set up by Hang Seng’s board of directors, said it believes the proposed privatisation to be “fair and reasonable”.