On 6 November 2025, an announcement was made regarding the privatisation of Hang Seng Bank Limited by way of a scheme of arrangement. The Executive received disclosures pursuant to the Hong Kong Code on Takeovers and Mergers, detailing transactions undertaken by Global Markets of The Hongkong and Shanghai Banking Corporation Limited (the Offeror).

According to the filing, Global Markets of The Hongkong and Shanghai Banking Corporation Limited purchased 103,700 ordinary shares on 5 November 2025 in hedging activities tied to wholly unsolicited client-driven orders, at a total consideration of US$15,742,370, with transaction prices ranging from US$151.50 to US$151.90. The filing also noted several sales of Delta 1 products that involved closing out positions arising from unsolicited client-driven dealings, including sales of 81,300, 3,800, and 18,600 units at respective total amounts of around US$12,355,056.1230, US$577,455.1820, and US$2,826,490.0380. These transactions reportedly took place on or before the close of the morning trading session following the originating client-driven dealing.

The announcement confirmed that all transactions by Global Markets of The Hongkong and Shanghai Banking Corporation Limited were executed for its own account. The entity is ultimately owned by HSBC Holdings plc.