atans1

HSBC is Hongkong Bank (Cont’d)/ Hongkies got balls

In Banks, Corporate governance, Hong Kong on 14/04/2020 at 5:01 am

I didn’t realise until I read the FT that Hong Kong retail investors, “own roughly a third of the shares”. Like them, I’m upset, that the British authorities forced it and other major UK banks to cancel dividends.

What annoys is that the shares have traded ex dividend and those of us who take our dividends in scrip form had already been informed of the numbers of shares we were getting.

But Honkies are doing more than KPKBing

The decision of HSBC to suspend its dividend payments has sparked a backlash among investors in Hong Kong, its biggest market. Along with other big British banks, hsbc suspended shareholder payouts after the Bank of England leant on them to do so, but a group of investors in Hong Kong has banded together to try to force an extraordinary general meeting on the matter.

Economist

They took on China and now HSBC. Hongkies got balls.

Related post: Why HSBC is really Hongkong Bank

  1. for info, hkers include the estimated 300,000 canuck passport holders.

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