On 13 November 2025, an announcement regarding the privatisation of Hang Seng Bank Ltd by way of a scheme of arrangement was released. According to the document, the Executive has received a disclosure of securities dealings pursuant to Rule 22 of the Hong Kong Code on Takeovers and Mergers.

Merrill Lynch International, an exempt principal trader connected with the Offeror, disclosed that on 12 November 2025 it purchased 100 ordinary shares of Hang Seng Bank Ltd in relation to hedging of Delta 1 products arising from wholly unsolicited client-driven orders. The total amount paid was US$15,190, while both the highest and lowest transaction prices were US$151.90. Merrill Lynch International, ultimately owned by Bank of America Corporation, conducted these dealings on its own account.