HSBC (HKG:0005) expects to incur a pre-tax loss of between $1.2 billion and $1.6 billion from the Bank of Communications' (HKG:3328, SHA:601328) issuance of up to 120 billion yuan in shares.
The loss will not have any material impact on HSBC's capital ratios, the British lender said in its first-quarter earnings release Tuesday.
Upon completion of BoCom's share issuance launched March 30, the British lender's stake in BoCom will decrease to 16% from 19.03%, HSBC said.
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