HSBC’s disgruntled shareholders launch new campaign for spinoff

A SMALL group of HSBC’s Hong Kong-based retail investors are seeking support to put a resolution to the bank’s 2023 annual meeting calling on it to restore its pre-pandemic dividend and set a plan to spin off assets.
HSBC “underperforms its peers, violates dividend commitments (and) ignores shareholder interest,” Ken Lui, an activist individual shareholder of HSBC said on Thursday as he kicked off a renewed campaign for support from other investors.