HSBC silent on share issue reports - News - Muzi.com

Set Home|Subscribe|Premium Home|MyMuzi

Muzi.com : Muzi (English) : News
HSBC silent on share issue reports

Last updated: 2009-02-28

HSBC silent on share issue reports
2009-02-28

Event
Global Financial Crisis
Company
HSBC
Source
(AFP)

LONDON (AFP) - HSBC made no comment Saturday on reports it is planning to raise more than 12 billion pounds in a share issue as it seeks to increase its capital reserves in the face of the global economic downturn.
The Financial Times said Europe's biggest bank was likely to unveil the plan to raise the sum, equivalent to 13.5 billion euros or 17 billion dollars, with its full-year 2008 results on Monday.
But the paper said sources close to the plan warned that details such as the exact price of the offering were yet to be set and the proposals could still be postponed.
HSBC has fared better in the credit crunch than many of its rivals thanks to profitable operations in Europe and the Middle East and its history of maintaining a larger capital base than its counterparts.
But the sharply slowing global economy and the collapse of US bank Lehman Brothers has persuaded the bank to strengthen its capital ratios, the report said.

Global Financial Crisis
Profile2 News2623 Gallery15 Links

US to sell JPMorgan Chase warrants (2009-12-08)
GE Capital outlook improving, losses to continue (2009-12-08)
CIT Group to exit bankruptcy protection Thursday (2009-12-08)
Getting a Mortgage in 2010: 10 Things to Know (2009-12-03)
AIG reduces government borrowings by $25 billion (2009-12-01)
Seniors suffer in troubled California subdivision (2009-11-26)
October U.S. new home sales seen rising 2 percent (2009-11-25)
Analysis: Fed under fire as public anger mounts (2009-11-22)
Watchdog: Gov't may have overpaid to bail out AIG (2009-11-16)
Foreclosures dip 3 pct. in October from September (2009-11-12)
Trial of ex-Bear Stearns execs goes to jury (2009-11-09)
Concern over capitalism on Berlin Wall anniversary (2009-11-09)
Big California bank fails, has China branches (2009-11-09)
AIG posts 2nd consecutive quarterly profit (2009-11-06)
IMF warns G20 off cutting economic support too fast (2009-11-06)
Congress set to expand homebuyer tax credit (2009-11-05)
CIT Group's biggest hurdle: Keeping customers (2009-11-02)
Putin tells EU to help Ukraine pay gas bills (2009-11-02)
CIT files for Chapter 11 bankruptcy protection (2009-11-01)
Federal regulators close 9 banks (2009-10-30)
CIT moves closer to pre-packaged bankruptcy approval (2009-10-30)
Fed to meet bank execs on pay reviews (2009-10-30)
Meltdown 101: What to know if your bank fails (2009-10-30)
CIT seen filing for bankruptcy in coming days (2009-10-29)
Brussels targets bailed-out banking giants (2009-10-28)

Stories Coverages

NewsGuide Event City People Show Company
ENT Sports BIZ EDU Life Military Politics Society Health

[2009 Tiger Woods Accident]: Sick mother-in-law adds twist to Woods saga (21:44 12/8)

[2009 White House Party-crasher]: Gate-crashers to take the Fifth if subpoenaed (21:44 12/8)

[111th Congress]: McChrystal backs Afghan plan to skeptical Congress (21:44 12/8)

[Afghan Terror War]: McChrystal backs Afghan plan to skeptical Congress (21:44 12/8)

[Second Gulf War]: Wave of coordinated attacks in Iraq kills 127 (21:44 12/8)

[2009 US Health Reform]: Dems reach deal to drop gov't-run plan (21:44 12/8)

[Oscar Awards]: Hollywood counters reality with decade of escapism (21:44 12/8)

[2009 Swine Flu]: Swine flu damage reaches deep into lungs: study (21:44 12/8)

[2008 U.S. Financial Rescue]: US to sell JPMorgan Chase warrants (21:44 12/8)

[Global Financial Crisis]: GE Capital outlook improving, losses to continue (21:44 12/8)

Muzi.com : About | Sitemap | Ads | Contact
All Rights Reserved 1994-2006 - All rights reserved.