HSBC Holdings (HSBA.L) Shares Move 2.22% Down: What Is The Reason?

HSBC Holdings shares have been falling for a month. On August 13, the share price was 414.45 GBP. Five days later, the price fell to 396.54 GBP. On August 24, the share price was 387.20 GBP. During the last trading session, the shares fell by 2.22% and were worth 386.20 GBP. HSBC is currently in preliminary and exclusive talks with L&T Finance Holdings related to the purchase of the mutual fund’s division of the Indian firm, according to reports on Tuesday.

In 2020, the Securities and Exchange Board of India rejected Blackstone’s application, which did not approve private investment companies with a significant stake in mutual funds because of their short-term approach. Given the delay and the necessary additional approvals, L&T Finance Holdings has agreed with HSBC on the possible sale of its mutual fund unit, the Moneycontrol news website reported, citing people directly familiar with the matter.

Lora Nilsson

Finance and Business reporterAfter graduating high school. Lora decided to travel and blog as a part-timer. Today she enjoys what she loves and works remotely as our finance and business reporter