Hang Seng Bank shares jump 30% on parent HSBC’s privatization bid, valuing it at over $37 billion

Hang Seng Bank shares jump 30% on parent HSBC’s privatization bid, valuing it at over $37 billion

HSBC said it has asked the board of Hang Seng Bank to put forward a privatization proposal to shareholders via a scheme of arrangement under Hong Kong’s Companies Ordinance.