On 14 November 2025, a disclosure under the Hong Kong Code on Takeovers and Mergers revealed share transactions involving Hang Seng Bank Limited in connection with a proposed privatisation by way of a scheme of arrangement.

Hang Seng Investment Management Limited executed multiple purchases and sales on 13 November 2025 at HKD151.70 per share, resulting in a final balance of 11,152,018 shares (approximately 0.5954% of the class). Transactions were carried out for discretionary investment clients. As stated in the disclosure, Hang Seng Investment Management Limited is a Class (1) associate connected with the offeree company and is ultimately owned by HSBC Holdings PLC.