On 13 November 2025, a public disclosure form announced that Hang Seng Bank Ltd is undergoing privatisation by way of a scheme of arrangement. The Executive received a disclosure pursuant to Rule 22 of the Hong Kong Code on Takeovers and Mergers, detailing securities dealings connected to this process.

According to the announcement, Merrill Lynch International, an exempt principal trader ultimately owned by Bank of America Corporation, entered into a derivative contract on 12 November 2025 involving 100 reference securities of Hang Seng Bank Ltd. The maturity date for these derivatives is 23 January 2026, with a reference price of US$151.90, and a total amount paid of US$15,190. The resultant balance is reported as zero shares, with the dealings conducted for Merrill Lynch International’s own account.