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HSBC Holdings plc (HSBA.L)
| Previous close | 437.40 |
| Open | 431.40 |
| Bid | 432.40 x 0 |
| Ask | 432.45 x 0 |
| Day's range | 428.19 - 436.05 |
| 52-week range | 281.50 - 466.54 |
| Volume | 12,130,178 |
| Avg. volume | 26,035,842 |
| Market cap | 88.343B |
| Beta (5Y monthly) | 0.59 |
| PE ratio (TTM) | 31.12 |
| EPS (TTM) | 13.90 |
| Earnings date | 27 Apr 2021 |
| Forward dividend & yield | 0.11 (2.45%) |
| Ex-dividend date | 11 Mar 2021 |
| 1y target est | 9.20 |
- The Telegraph
HSBC to give 'Princess of Huawei' key documents to help fight extradition
HSBC has struck a deal with Huawei chief financial officer Meng Wanzhou over producing bank records that are expected to be significant in helping her fight extradition to the US. Ms Meng, known as the 'Princess of Huawei', is currently under house arrest in Canada, facing extradition to the US over allegations that she committed bank fraud by misleading HSBC over links between Chinese telecom giant Huawei and Skycom. US authorities allege that the links between Huawei and Skycom enabled Huawei to violate sanctions and sell telecoms equipment to Iran. Huawei has argued that Skycom was a business partner, and that it has been clear over this relationship, whereas prosecutors claim Skycom was effectively a subsidiary of the Chinese telecom giant. In a court hearing Monday, Hong Kong High Court judge Linda Chan approved the document-sharing agreement between Huawei and HSBC. It comes weeks after lawyers for Huawei said records held by HSBC would prove that bank executives knew "the true state of affairs” of deals between Skycom and Huawei. Ms Meng has been under strict curfew in a house in Vancouver since December 2018, when she was arrested whilst transferring between planes. Last year, she lost her first battle in the case, having been attempting to argue it would be unlawful for Canada to surrender her to the US. The Supreme Court of British Columbia ruled against her.
- Reuters
HSBC and Huawei CFO reach agreement on document publication linked to extradition case
HSBC and Huawei Technologies' Chief Financial Officer Meng Wanzhou have reached an agreement in a dispute about the publication of documents relating to U.S. fraud allegations against her, their lawyers told a Hong Kong court. The legal dispute reached the Hong Kong court last month after a British judge in February blocked the release of internal HSBC documents relating to the fraud allegations against Meng.
- Bloomberg
UAE’s Mubadala May Join $12 Billion Aramco Oil Pipelines Deal
(Bloomberg) -- An Abu Dhabi sovereign wealth fund may join a group investing in Saudi Aramco’s oil pipelines, in a deal set to be backed by a loan of around $10.5 billion.Mubadala Investment Co., a fund with $232 billion of assets, is in talks with U.S. investor EIG Global Energy Partners LLC, the lead member of the consortium, according to a Mubadala spokesperson.Aramco has helped put together the loan, which the group will use to fund the transaction, according to other people familiar with the matter. BNP Paribas SA, Citigroup Inc., HSBC Holdings Plc and Mizuho Financial Group Inc are among the lenders, said the people. All four banks declined to comment.Washington-based EIG and Aramco, the world’s largest oil company, announced the $12.4 billion deal late Friday. The investors will buy 49% of Aramco Oil Pipelines Co., a recently-formed entity with rights to 25 years of tariff payments for crude shipped through the Saudi Arabian firm’s network. Aramco will own the rest of the shares and retain full ownership of the pipelines themselves.The transaction is part of Saudi Arabia’s drive to open up more to foreign investment and use the money to diversify its economy, which was hammered last year by coronavirus lockdowns and the fall in oil prices.The disposal may also help Aramco reduce its debt and maintain its dividend, the biggest of any listed firm globally. The company -- 98% owned by the Saudi government -- paid out $75 billion to shareholders for 2020.The deal is structured similarly to one last year involving Abu Dhabi National Oil Co. In June, Adnoc raised $10.1 billion by selling leasing rights over its natural-gas pipelines to a group including Global Infrastructure Partners and Singapore’s sovereign wealth fund, GIC Pte.East-West PipelineHSBC advised EIG on the Aramco acquisition, one of the largest this year in the energy sector. Apollo Global Management Inc., Brookfield Asset Management Inc. and BlackRock Inc. were among the other investors that made or considered bids.Mubadala is the second-biggest wealth fund in the United Arab Emirates, of which Abu Dhabi is the capital.The transaction covers all of Aramco’s existing and future pipelines in the kingdom, according to EIG. The company’s vast network includes the East-West Pipeline, which can carry more than 5 million barrels of crude a day from Saudi Arabia’s main fields in the east to Yanbu on the Red Sea.EIG described it as a “lease and lease-back agreement.” Aramco will lease usage rights for its pipelines to the new subsidiary, which will then give Aramco the exclusive right to use the network for the 25-year period in exchange for a quarterly, volume-based tariff. Aramco will retain all operating and capital expense risk, EIG said.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
