- HSBC (HSBC) has reportedly asked investors if they would support the bank selling up to 30% of its U.K. unit in an IPO that could value the subsidiary at an estimated £20B.
- A listing of the business would help HSBC comply with the terms of the incoming Vickers rules, which require U.K. banks to ring-fence their domestic retail banking operations. Increasing capital requirements may also make the flotation logical, while it could unlock shareholder value as well, given investor optimism towards the U.K. and its banking sector.
- The news comes as other banks prepare to list subsidiaries in the U.K., including Lloyds, RBS and Santander.
- HSBC's shares are +0.4% in London.
HSBC mulls listing U.K. operations
Dec 9 2013, 03:32 ET