HSBC STATEMENT ON BANK EKONOMI
PT Bank Ekonomi Raharja Tbk ('Bank Ekonomi'), which is 98.94% owned by HSBC Asia Pacific Holdings (UK) Limited ('HAPH'), itself an indirect wholly-owned subsidiary of HSBC Holdings plc ('HSBC'), has announced that it is planning to change its status from a public listed company to a private company and to delist from the Indonesia Stock Exchange ('the Transactions') due to the illiquidity of its shares.
The Transactions are subject to the approval of Bank Ekonomi's independent shareholders at an extraordinary general meeting and to the approval of the Indonesian Financial Services Authority (OJK).
Bank Ekonomi has requested that the trading of its shares be suspended by the Indonesia Stock Exchange with effect from the commencement of trading tomorrow.
As a result of the above, HSBC will plan for an integration of the business operations of Bank Ekonomi and HSBC's Indonesian branch, subject to, amongst other things, applicable laws and regulations.
Media enquiries to:
Gareth Hewett
+ 852 2822 4929
[email protected]
Lucy Haddrill
+ 852 9620 3932
[email protected]
Mutiara Asmara
+62 87887570128
[email protected]
Investor Relations enquiries to:
Hugh Pye
+ 852 2822 4908
[email protected]
Notes to editors:
1. The HSBC Group
HSBC Holdings plc, the parent company of the HSBC Group, is headquartered in London. The Group serves customers worldwide from over 6,200 offices in 74 countries and territories in Europe, Asia, North and Latin America, and the Middle East and North Africa. With assets of US$2,729bn at 30 September 2014, HSBC is one of the world's largest banking and financial services organisations.
2. PT Bank Ekonomi Raharja Tbk
PT Bank Ekonomi Raharja, Tbk ('Bank Ekonomi') is a commercial banking service provider which was established in 1989, and now serves its customers through 99 branches in 31 cities across Indonesia. Supported by more than 2,000 employees, Bank Ekonomi is listed on the Indonesia Stock Exchange (IDX) and as at 31 December 2014, 98.94% of its shares are owned by HSBC Asia Pacific Holdings (UK) Limited, a wholly owned subsidiary of HSBC Holdings plc. As a member of the HSBC Group, Bank Ekonomi is part of one of the world's largest banking and financial services organisations.
ends/all
