Transcription
[Music] HSBC, a bank, has already owned 63% of shares. HSBC's latest move has sparked heated discussion throughout Hong Kong. Let's analyze the deployment of rescue operations together. Looking back at the past thirty-odd years, HSBC has invested tens of billions of Hong Kong dollars in major acquisitions. However, almost every time, it has rewritten the fate of the industry. We don't have a crystal ball, but perhaps we can gain some insights from history.
[Music] Although HSBC is a British bank, by the early 1990s, it was still perceived by the world as a bank with an absolute focus on Asia. In 1992, HSBC fully merged with Midlands Bank, in which it already held a 15% stake, becoming one of the four major banks in the UK. However, regarding the performance turnaround, HSBC proposed to acquire it by exchanging shares, with a valuation of 3.9 billion British pounds, which was approximately 7.4 billion US dollars or 51.8 billion Hong Kong dollars at the time. After the transaction was completed, HSBC became the largest bank in the UK, shifting its focus from Hong Kong to the UK. In 1999, HSBC further increased its acquisition scale by acquiring Crédit Commercial de France, becoming a globally renowned international bank that controlled the global financial storm at the time. In 2002, HSBC acquired the financial company HFC for approximately 14.5 billion US dollars. To this day, this remains the largest single acquisition amount for the group. HFC was the precursor to HSBC's subprime mortgage crisis in the United States in 2007. Although this transaction was paid for by shares, the subsequent subprime mortgage crisis led HSBC to a global public offering of shares in 2009, raising 17.7 billion US dollars, which is still the largest capital raising of its kind today. Looking back at the acquisitions and mergers in the banking industry over the past 60 years, the scale has been enormous. The current CEO, Michael Geoghegan, has made significant moves for HSBC in Europe. It seems romantic to think of it as a sentimental structure, as if it were an irreplaceable value that fits the role of this top executive.