HSBC is in the early stages of planning an IPO of its banking business in Indonesia, sources say


Source: scmp.com scmp.com

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HSBC Holdings has been examining an initial public offering (IPO) of its Indonesian business to tap buoyant investor demand in the world’s fourth-most populous country. Plans for a share sale in Jakarta are at an advanced stage, said people familiar with the plan, asking not to be named discussing an internal matter. It has yet to file a formal IPO application but the local regulator is aware of its intention, they said. A spokesman for HSBC declined to comment. A spokesperson at Indonesia’s Financial Services Authority said the regulator doesn’t comment on corporate actions. The plan would meet a promise...