HSBC Holdings plc (HSBC) has released an update.
HSBC Holdings plc has been granted a waiver from the Hong Kong Stock Exchange allowing the bank to exceed the usual limit for issuing Contingent Convertible Securities (CCSs), which can be converted into ordinary shares under certain conditions. This waiver is in addition to the general authority the company has to allot shares, and it will remain in effect until the next annual general meeting or until shareholders decide otherwise. The issuance of CCSs is subject to the bank making announcements and clarifying that this new mandate is supplementary to their existing share allotment authority.
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