25 June 2013
HSBC TO DISPOSE OF ITS STAKE IN
DAR ES SALAAM INVESTMENT BANK
HSBC Asia Holdings BV, a wholly owned subsidiary of HSBC Holdings plc ("HSBC"), has confirmed to Dar Es Salaam Investment Bank ("DES") that, following a strategic review, it was decided to explore options for the disposal of HSBC's shareholding in DES. HSBC Asia Holdings BV owns shares representing 70.1% of the issued share capital of DES as at 31 December 2012.
HSBC Asia Holdings BV has further advised DES that it will not subscribe to any offer of shares by DES as part of its proposed capital increase.
HSBC will make a further statement if or when appropriate.
Note to editors:
HSBC Holdings plc, the parent company of the HSBC Group, is headquartered in London. The Group serves customers worldwide from around 6,600 offices in over 80 countries and territories in Europe, the Asia-Pacific region, North and Latin America, and the Middle East and North Africa. With assets of US$2,681bn at 31 March 2013, the HSBC Group is one of the world's largest banking and financial services organisations.
