Trading on NYSE
HSBC HOLDINGS PLC
16 July 1999
HSBC SHARES OPEN ON THE NEW YORK STOCK EXCHANGE
Trading in HSBC Holdings plc shares began on the New York
Stock Exchange (NYSE) today, under the trading symbol 'HBC'.
This supplements HSBC's existing dual primary listings on
the London and Hong Kong Stock Exchanges.
In a ceremony on the exchange floor, HSBC Group Chairman, Sir
John Bond, rang the opening bell to start the day's trading.
He said: 'Listing in New York is an important milestone in
the continued development of the HSBC Group.
'It is sensible for a Group of our size to have access to the
world's largest capital market and we believe the listing is
good news for our shareholders. It will prove more
convenient for investors in the US, where we look forward to
building our shareholder base, and it should stimulate
demand for HSBC shares internationally.'
'The NYSE is proud to list the shares of HSBC, one of the
world's leading financial services institutions,' said New
York Stock Exchange Chairman and CEO Richard A. Grasso.
'HSBC is internationally recognised as a truly global
company with an extraordinary customer and shareholder base
and an exceptional brand. We welcome Sir John Bond and the
entire HSBC family to the Exchange and look forward to a
long, mutually beneficial partnership.'
Shares in HSBC Holdings plc will be traded on the NYSE in the
form of American Depositary Shares (ADS), with each ADS
representing five US$0.50 Ordinary Shares. There are
currently over 160,000 holders of 8,425,897,740 Ordinary
Shares in over 90 countries and territories, and some 1,900
ADR holders.
The listing of HSBC shares on the New York Stock Exchange
follows the successful consolidation of the Group's two
classes of shares into a single class of Ordinary Shares
denominated in US dollars. Under the share capital
reorganisation shareholders received three new US$0.50
Ordinary Shares for each HK$10 or 75 pence Ordinary Share
held. Dealing in the new shares began on the London and Hong
Kong Stock Exchanges on 5 July.
Headquartered in London, with over 5,000 offices in 79
countries and territories, and assets in excess of US$483
billion at 31 December 1998, the HSBC Group is one of the
largest financial services organisations in the world.
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