One of the major shareholders of HSBC Holdings China Ping An, continued to publicly criticize this international bank giant on Friday (April 21), accusing him of failing to participate in its future discussions.
According to the Wall Street Journal, Ping An China issued a statement for the second time in less than a week to criticize HSBC Holdings Management.The company called HSBC Holdings a few days ago that HSBC Holdings will be listed in Hong Kong, which will bring a large part of its profits in Hong Kong, while maintaining a controlling equity to the business.HSBC Holdings, headquartered in London, responded that the move would push costs and reduce profits.
Huang Yong, chairman of Ping An Asset Management, said on Friday that its suggestions "will not be said as saying as HSBC Holdings, leading to huge global value damage, increasing operating costs and legal obstacles."
Huang Yong accused HSBC for in -depth discussions with Ping An's restructuring plan.He said: "According to the principles of international basic corporate governance, HSBC Holdings should at least respect the concerns or opinions of shareholders and shareholders."One of the largest shareholders of London's loan agencies.
HSBC's shareholders will vote on a motion at the annual shareholders' meeting on May 5th, the company's first fiscal quarterly results.The bill requires HSBC Holdings to regularly evaluate structural changes, including potential spin -off.Ping An of China said this week that it supports the motion in principle.
