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hsbc plans to issue 800 million singapore dollars in convertible securities
HSBC Holdings PLC plans to issue SGD800 million (GBP463.7 million) in 5.000% resettable perpetual subordinated contingent convertible securities. The securities will be listed on London's Official List and Euronext Dublin's Global Exchange Market, with a minimum denomination of SGD250,000. Joint lead managers include DBS Bank Ltd, United Overseas Bank Ltd, and Oversea-Chinese Banking Corp Ltd, among others, with an agreement to sell to at least six independent investors.
Citigroup shareholders received a $0.56 dividend, yielding 3.19%, with a payout ratio of 37.65%. Recent insider transactions saw COO Anand Selvakesari and CFO Mark Mason sell significant shares, reducing their ownership. Analysts maintain a "Moderate Buy" rating, with a consensus target price of $83.93, while several top-rated analysts recommend alternative stocks.
bank of america receives mixed analyst ratings and price target adjustments
Keefe, Bruyette & Woods raised their price target on Bank of America to $57, maintaining an "outperform" rating, while HSBC upgraded it to "buy" with a $50 target. Piper Sandler lowered its target to $49 with a "neutral" rating. Currently, the stock has a "Moderate Buy" rating and a consensus price target of $48.64, with institutional investors holding 70.71% of shares. Bank of America reported a quarterly EPS of $0.82, exceeding estimates, and announced a dividend of $0.26 per share, payable on March 28.
private banks in hong kong expand hiring amid influx of chinese wealth
Wealth managers in Hong Kong are ramping up hiring to accommodate a surge in mainland Chinese clients seeking offshore investments and residency options. With private wealth net inflows nearly tripling to HK$341 billion in 2023, banks like UBS and Julius Baer are expanding their teams and services to cater to this growing demand. Amid geopolitical concerns and economic challenges in China, affluent individuals are increasingly looking to diversify their assets and secure better opportunities abroad.
Blackstone Pursues 2.6 Billion Dollar Loan for AirTrunk Data Centers
Blackstone Inc. is negotiating a multi-currency loan of approximately A$4 billion ($2.6 billion) for AirTrunk Pte., an Australian data center operator. The private equity firm is in discussions with around 10 banks, including DBS Group, Standard Chartered, and Sumitomo Mitsui, as loan terms are being finalized.
dbs expands wealth management team for wealthy russian clients amid sanctions
DBS Group Holdings has expanded its wealth management team to attract wealthy Russians, hiring two private bankers recently, despite many global banks retreating due to sanction risks. The Singapore lender now has at least nine Russian-speaking bankers and aims to double its wealth management fees by 2027, offering services to clients with a minimum of $20 million in assets. While it conducts rigorous risk assessments to ensure compliance with sanctions, DBS emphasizes that it does not specifically target Russian clients.
Founded in 1984, Jardine Matheson Holdings Limited operates across various sectors, including automotive, financial services, and property, with a secondary listing on the Singapore Stock Exchange. In Singapore, notable large-cap stocks include DBS Group Holdings, OCBC, and Singtel, with market capitalizations exceeding S$10 billion, reflecting their stability and maturity in the market.
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