Hang Seng Bank Limited has received disclosures regarding dealings in its shares, as announced on 14 November 2025. The disclosures, submitted under Rule 22 of the Hong Kong Code on Takeovers and Mergers, involve Goldman Sachs (Asia) L.L.C. on behalf of The Goldman Sachs Group, Inc. and affiliates.

According to the submissions, multiple derivative contracts referencing Hang Seng Bank Limited were entered into on 13 November 2025, primarily maturing on 10 October 2030. Notable transactions involve varying numbers of reference securities—ranging from small lots to larger quantities of several thousand shares—with reference prices around the mid-USD151 range and corresponding total amounts paid.

A separate set of transactions includes a significantly larger contract referencing 26,600 shares dated 25 September 2026 at a reference price of USD151.9386. In addition, certain positions were closed out on 13 November 2025, and some rights under derivative contracts were exercised on later dates, such as 22 April 2026 and 7 August 2026.

Goldman Sachs (Asia) L.L.C. has indicated these transactions were executed on its own account. The entity is an exempt principal trader associated with the offeror and is ultimately owned by The Goldman Sachs Group, Inc.