On 13 November 2025, an announcement was released regarding the privatisation of Hang Seng Bank Limited by way of a scheme of arrangement. The document disclosed dealings in the bank’s shares pursuant to Rule 22 of the Hong Kong Code on Takeovers and Mergers.

According to the disclosure, Goldman Sachs (Asia) L.L.C. on behalf of The Goldman Sachs Group, Inc. and affiliates carried out transactions on 12 November 2025. These transactions included a purchase of 27,700 ordinary shares at a total amount of $4,203,400, with a highest price of $152.0000 and a lowest price of $151.6000. Delta 1 product transactions consisted of a sale of 24,300 units for $3,692,198.3760, followed by two additional sales of 1,800 and 1,600 units at $273,523.0806 and $243,131.6304 respectively, each transacted around $151.9573. In addition, 214 and 220 ordinary shares were received at predetermined prices of $112.4183 and $125.0286 for amounts totaling $24,057.5162 and $27,506.2920 respectively.

Goldman Sachs (Asia) L.L.C. on behalf of The Goldman Sachs Group, Inc. and affiliates is described as an exempt principal trader connected with the offeror, and the dealings were undertaken for its own account. It is ultimately owned by The Goldman Sachs Group, Inc..