News from the Financial Associated Press, February 10 (Editor Hu Jiarong)Standard Chartered Group (02888.HK) caused a change in the company’s stock price due to a rumor. After the London market rose by more than 11% overnight, the Hong Kong stock market also rose by more than 11% in early trading on Friday. As of press time, Standard Chartered Group rose 7.96% to close at HK$70.5.
Note: Standard Chartered Group’s performance today According to sources, FAB (First Abu Dhabi Bank), the largest bank in the Middle East, is considering proposing an acquisition plan to Standard Chartered Bank and discussing an all-cash bid of US$30 billion to US$35 billion .
Currently, FAB has a market cap of about $43 billion, twice that of Standard Chartered. The source also said FAB, under the code name of “Silver-Foxtrot” as the operation code name, was promoting potential bids, waiting for the “cooling-off period” required by the UK’s takeover rules to pass.
In response to this, Standard Chartered Group said that the company does not comment on speculation about the acquisition.
In the London market overnight, Standard Chartered Group (STAN) closed up 11.44% at 767.6 pence.
Note: Performance of Standard Chartered Group (STAN) Standard Chartered Securities became the third wholly foreign-owned securities company in China
In addition to the rumors of the FAB acquisition of the First Bank of Abu Dhabi, the China Securities Regulatory Commission announced on January 19 that it approved the establishment of Standard Chartered Securities, registered in Beijing, with a registered capital of 1.05 billion yuan. Standard Chartered Securities is wholly owned by Standard Chartered Bank (Hong Kong), becoming the first wholly foreign-owned new securities firm, and also the third wholly foreign-owned securities firm after JPMorgan Chase Securities and Goldman Sachs Gao Hua Securities.
The business development of Standard Chartered Securities does not take securities brokerage and underwriting sponsorship as the primary goal, but hopes to provide customers with more comprehensive capital market solutions.