HSBC Reportedly Considers Floating U.K. Arm

HSBC is considering floating its U.K. arm ahead of new regulation demanding banks ringfence retail banking operations, U.K newspaper The Daily Telegraph reported on Monday.

Britain’s largest bank has been reportedly sounding out investors in recent weeks, the newspaper said.

There have also been informal board conversations to gauge opinion, the Financial Times reports. The newspaper reports people familiar with the matter, which is still in the early stages, have said the most likely plan would be to list a minority stake of up to 30% in the U.K. retail and commercial banking operation.

Investors have estimated that the U.K. arm could float with a total market value of roughly GBP20 billion.

Source: MarketWatch