HSBC will expand its investment banking business to serve the rising demand of companies from Asia and the Middle East for initial public offerings (IPOs), said the co-CEOs of the bank’s biggest profit centre.
The plan aligns with the bank’s restructuring to focus on high-return areas like Hong Kong and India, as well as exit low-profitability markets like Europe and the US.
Hong Kong sits atop the world’s IPO league table, after 27 companies raised US$9.96 billion this year as of last week,…
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